NASDAQ: CNDT - Conduent Incorporated

Price = Avg Price + (Avg Price * CAGR EPS% / 100)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — Nøkkelrente
Excess Key Rate — Ønsket overskridelse av styringsrenten
EPS = -1.37
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 3.86 + (3.86 * 8.66% / 100) = 4.19

Price = (Terminal Value + Company Value) / Count shares
Price - Fair pris
Terminal Value — kostnad i perioden etter prognose
Company Value — kostnad i prognoseperioden
Count shares - Antall aksjer
Terminal Value = Discount Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = 0.0763
Ebitda Yield = 0.1215
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - Gjeldsbetjeningskostnader
Debt - Plikt
Weight Debt - Kapitaliseringsvekt i forhold til gjeld
Weight Cost Debt - Gjeldsvekt i forhold til kapitalisering
Tax - Avgift
Interest Expense = 0.111
Debt = 1.28
Market Cap = 0.6946
Weight Debt = Market Cap / (Market Cap + Debt) = 0.6946 / (0.6946 + 1.28) = 0.3514
Weight Cost Debt = 100% - 0.3514 = 0.6486
Tax = 0.21
Cost Of Equity — diskonteringsrente
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — risikofri avkastning
β (beta) — bestemmer risikomålet for en aksje (aktiva) i forhold til markedet og viser sensitiviteten til endringer i aksjens lønnsomhet i forhold til endringer i markedslønnsomheten.
Risk Premium — risikopremie - premie for risikoen ved å investere i aksjer
Country Premium - landrisiko
k(f) = 2.89
β = 0.7623
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 0.7623 * 5.94 + 0 = 0.0742
WACC = (0.111 / 1.28) * (100% - 0.3514) * (1 - 0.21) + 0.0742 + 0.3514 = 6.84
Terminal Value = Discount (0.0763 * (1 + 0.1215) / (6.84 - 0.1215)) = 1.16
Company Value = ∑ (0.0763 / (1 + 6.84) ^ 5) = 0.2492
Price = (Terminal Value + Company Value) / Count shares = (1.16 + 0.2492) / 216780000 = 6.49

Price = (Terminal Value + Company Value) / Count shares
Price - Fair pris
Terminal Value — kostnad i perioden etter prognose
Company Value — kostnad i prognoseperioden
Count shares - Antall aksjer
Terminal Value = Discount FCF(5) * (1 + FCF Yield) / (WACC - FCF Yield)
Company Value = ∑ (Discount FCF / (1 + WACC) ^ 5)
Discount FCF(5) = -0.000417
FCF Yield = -0.3638
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - Gjeldsbetjeningskostnader
Debt - Plikt
Weight Debt - Kapitaliseringsvekt i forhold til gjeld
Weight Cost Debt - Gjeldsvekt i forhold til kapitalisering
Tax - Avgift
Interest Expense = 0.111
Debt = 1.28
Market Cap = 0.6946
Weight Debt = Market Cap / (Market Cap + Debt) = 0.6946 / (0.6946 + 1.28) = 0.3514
Weight Cost Debt = 100% - 0.3514 = 0.6486
Tax = 0.21
Cost Of Equity — diskonteringsrente
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — risikofri avkastning
β (beta) — bestemmer risikomålet for en aksje (aktiva) i forhold til markedet og viser sensitiviteten til endringer i aksjens lønnsomhet i forhold til endringer i markedslønnsomheten.
Risk Premium — risikopremie - premie for risikoen ved å investere i aksjer
Country Premium - landrisiko
k(f) = 2.89
β = 0.7623
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 0.7623 * 5.94 + 0 = 0.0742
WACC = (0.111 / 1.28) * (100% - 0.3514) * (1 - 0.21) + 0.0742 + 0.3514 = 6.84
Terminal Value = Discount (-0.000417 * (1 + -0.3638) / (6.84 - -0.3638)) = -0.000441
Company Value = ∑ (-0.000417 / (1 + 6.84) ^ 5) = -0.0054
Price = (Terminal Value + Company Value) / Count shares = (-0.000441 + -0.0054) / 216780000 = -0.0272