NASDAQ: MGLN - Magellan Health, Inc.

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 = 11.55
CAGR EPS = 20.21%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 94.99 + (94.99 * 20.21% / 100) = 114.19

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) = 0.5863
Ebitda Yield = 0.0692
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
Debt = 0.5626
Market Cap = 2.49
Weight Debt = Market Cap / (Market Cap + Debt) = 2.49 / (2.49 + 0.5626) = 0.8157
Weight Cost Debt = 100% - 0.8157 = 0.1843
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
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 0 * 5.94 + 0 = 0.0289
WACC = (0 / 0.5626) * (100% - 0.8157) * (1 - 0.21) + 0.0289 + 0.8157 = 0.0236
Terminal Value = Discount (0.5863 * (1 + 0.0692) / (0.0236 - 0.0692)) = 9.07
Company Value = ∑ (0.5863 / (1 + 0.0236) ^ 5) = 2.57
Price = (Terminal Value + Company Value) / Count shares = (9.07 + 2.57) / 25000000 = 465.9

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) = 1.14
FCF Yield = 0.2396
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
Debt = 0.5626
Market Cap = 2.49
Weight Debt = Market Cap / (Market Cap + Debt) = 2.49 / (2.49 + 0.5626) = 0.8157
Weight Cost Debt = 100% - 0.8157 = 0.1843
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
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 0 * 5.94 + 0 = 0.0289
WACC = (0 / 0.5626) * (100% - 0.8157) * (1 - 0.21) + 0.0289 + 0.8157 = 0.0236
Terminal Value = Discount (1.14 * (1 + 0.2396) / (0.0236 - 0.2396)) = 5.89
Company Value = ∑ (1.14 / (1 + 0.0236) ^ 5) = 3.88
Price = (Terminal Value + Company Value) / Count shares = (5.89 + 3.88) / 25000000 = 390.8