NASDAQ: PACW - PacWest Bancorp

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 = 3.61
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 7.54 + (7.54 * 8.66% / 100) = 8.19

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) = 0.000748
Ebitda Yield = -1.35
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 = 0.2657
Debt = 4.15
Market Cap = 0.9457
Weight Debt = Market Cap / (Market Cap + Debt) = 0.9457 / (0.9457 + 4.15) = 0.1856
Weight Cost Debt = 100% - 0.1856 = 0.8144
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 = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0 * 5.94 + 0 = 0.0282
WACC = (0.2657 / 4.15) * (100% - 0.1856) * (1 - 0.21) + 0.0282 + 0.1856 = 5.05
Terminal Value = Discount (0.000748 * (1 + -1.35) / (5.05 - -1.35)) = -0.000147
Company Value = ∑ (0.000748 / (1 + 5.05) ^ 5) = 0.0348
Price = (Terminal Value + Company Value) / Count shares = (-0.000147 + 0.0348) / 117260000 = 0.2955

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) = 0.9846
FCF Yield = 0.06
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 = 0.2657
Debt = 4.15
Market Cap = 0.9457
Weight Debt = Market Cap / (Market Cap + Debt) = 0.9457 / (0.9457 + 4.15) = 0.1856
Weight Cost Debt = 100% - 0.1856 = 0.8144
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 = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0 * 5.94 + 0 = 0.0282
WACC = (0.2657 / 4.15) * (100% - 0.1856) * (1 - 0.21) + 0.0282 + 0.1856 = 5.05
Terminal Value = Discount (0.9846 * (1 + 0.06) / (5.05 - 0.06)) = 86.41
Company Value = ∑ (0.9846 / (1 + 5.05) ^ 5) = 3.78
Price = (Terminal Value + Company Value) / Count shares = (86.41 + 3.78) / 117260000 = 769.18