NASDAQ: HOLX - Hologic

Price = EPS * (1 + CAGR EPS) / (Key Rate * Excess Key Rate)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — Nøkkelrente
Excess Key Rate — Ønsket overskridelse av styringsrenten
EPS = 3.32
CAGR EPS = -4.62%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 3.32 * (1 + -4.62%) / (0.0433 * 2) = 36.6

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) = 1.15
Ebitda Yield = -0.0241
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 = 0.1221
Debt = 2.66
Market Cap = 17.92
Weight Debt = Market Cap / (Market Cap + Debt) = 17.92 / (17.92 + 2.66) = 0.8708
Weight Cost Debt = 100% - 0.8708 = 0.1292
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 = -1.17
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -1.17 * 5.94 + 0 = -0.0405
WACC = (0.1221 / 2.66) * (100% - 0.8708) * (1 - 0.21) + -0.0405 + 0.8708 = 3.56
Terminal Value = Discount (1.15 * (1 + -0.0241) / (3.56 - -0.0241)) = 15.75
Company Value = ∑ (1.15 / (1 + 3.56) ^ 5) = 5.44
Price = (Terminal Value + Company Value) / Count shares = (15.75 + 5.44) / 237550000 = 89.23

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) = 1.63
FCF Yield = 0.0729
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 = 0.1221
Debt = 2.66
Market Cap = 17.92
Weight Debt = Market Cap / (Market Cap + Debt) = 17.92 / (17.92 + 2.66) = 0.8708
Weight Cost Debt = 100% - 0.8708 = 0.1292
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 = -1.17
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -1.17 * 5.94 + 0 = -0.0405
WACC = (0.1221 / 2.66) * (100% - 0.8708) * (1 - 0.21) + -0.0405 + 0.8708 = 3.56
Terminal Value = Discount (1.63 * (1 + 0.0729) / (3.56 - 0.0729)) = 39.3
Company Value = ∑ (1.63 / (1 + 3.56) ^ 5) = 6.37
Price = (Terminal Value + Company Value) / Count shares = (39.3 + 6.37) / 237550000 = 192.27