NASDAQ: INFN - Infinera Corporation

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 = -0.1112
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 5.86 + (5.86 * 8.66% / 100) = 6.36

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) = 0.1863
Ebitda Yield = 0.1516
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 = 0.0306
Debt = 0.6972
Market Cap = 0.9236
Weight Debt = Market Cap / (Market Cap + Debt) = 0.9236 / (0.9236 + 0.6972) = 0.5699
Weight Cost Debt = 100% - 0.5699 = 0.4301
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 = -0.2921
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -0.2921 * 5.94 + 0 = 0.0115
WACC = (0.0306 / 0.6972) * (100% - 0.5699) * (1 - 0.21) + 0.0115 + 0.5699 = 3.46
Terminal Value = Discount (0.1863 * (1 + 0.1516) / (3.46 - 0.1516)) = 1.55
Company Value = ∑ (0.1863 / (1 + 3.46) ^ 5) = 0.6416
Price = (Terminal Value + Company Value) / Count shares = (1.55 + 0.6416) / 226730000 = 9.65

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) = -0.0016
FCF Yield = -0.3372
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 = 0.0306
Debt = 0.6972
Market Cap = 0.9236
Weight Debt = Market Cap / (Market Cap + Debt) = 0.9236 / (0.9236 + 0.6972) = 0.5699
Weight Cost Debt = 100% - 0.5699 = 0.4301
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 = -0.2921
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -0.2921 * 5.94 + 0 = 0.0115
WACC = (0.0306 / 0.6972) * (100% - 0.5699) * (1 - 0.21) + 0.0115 + 0.5699 = 3.46
Terminal Value = Discount (-0.0016 * (1 + -0.3372) / (3.46 - -0.3372)) = -0.0025
Company Value = ∑ (-0.0016 / (1 + 3.46) ^ 5) = -0.0204
Price = (Terminal Value + Company Value) / Count shares = (-0.0025 + -0.0204) / 226730000 = -0.1007