NASDAQ: GIII - G-III Apparel Group, Ltd.

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 = 3.75
CAGR EPS = 4.98%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 27.77 + (27.77 * 4.98% / 100) = 29.15

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) = 0.3469
Ebitda Yield = 0.0243
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 = 0.0396
Debt = 0.6527
Market Cap = 0.9474
Weight Debt = Market Cap / (Market Cap + Debt) = 0.9474 / (0.9474 + 0.6527) = 0.5921
Weight Cost Debt = 100% - 0.5921 = 0.4079
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) = 2.82
β = 1.18
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.18 * 5.94 + 0 = 0.0981
WACC = (0.0396 / 0.6527) * (100% - 0.5921) * (1 - 0.21) + 0.0981 + 0.5921 = 4.82
Terminal Value = Discount (0.3469 * (1 + 0.0243) / (4.82 - 0.0243)) = 11.72
Company Value = ∑ (0.3469 / (1 + 4.82) ^ 5) = 1.44
Price = (Terminal Value + Company Value) / Count shares = (11.72 + 1.44) / 47000000 = 280

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) = 1.51
FCF Yield = 0.2177
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 = 0.0396
Debt = 0.6527
Market Cap = 0.9474
Weight Debt = Market Cap / (Market Cap + Debt) = 0.9474 / (0.9474 + 0.6527) = 0.5921
Weight Cost Debt = 100% - 0.5921 = 0.4079
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) = 2.82
β = 1.18
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.18 * 5.94 + 0 = 0.0981
WACC = (0.0396 / 0.6527) * (100% - 0.5921) * (1 - 0.21) + 0.0981 + 0.5921 = 4.82
Terminal Value = Discount (1.51 * (1 + 0.2177) / (4.82 - 0.2177)) = 8.56
Company Value = ∑ (1.51 / (1 + 4.82) ^ 5) = 4.51
Price = (Terminal Value + Company Value) / Count shares = (8.56 + 4.51) / 47000000 = 278.05