NASDAQ: SATS - EchoStar 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 = -6.28
CAGR EPS = 39.96%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 20.07 + (20.07 * 39.96% / 100) = 28.09

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) = 0.0043
Ebitda Yield = -1.44
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 = 0.0904
Debt = 23.14
Market Cap = 1.65
Weight Debt = Market Cap / (Market Cap + Debt) = 1.65 / (1.65 + 23.14) = 0.0666
Weight Cost Debt = 100% - 0.0666 = 0.9334
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 = -0.8789
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + -0.8789 * 5.94 + 0 = -0.024
WACC = (0.0904 / 23.14) * (100% - 0.0666) * (1 - 0.21) + -0.024 + 0.0666 = 0.3067
Terminal Value = Discount (0.0043 * (1 + -1.44) / (0.3067 - -1.44)) = -0.0013
Company Value = ∑ (0.0043 / (1 + 0.3067) ^ 5) = 0.0773
Price = (Terminal Value + Company Value) / Count shares = (-0.0013 + 0.0773) / 270840000 = 0.2805

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) = 0.2914
FCF Yield = -1.85
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 = 0.0904
Debt = 23.14
Market Cap = 1.65
Weight Debt = Market Cap / (Market Cap + Debt) = 1.65 / (1.65 + 23.14) = 0.0666
Weight Cost Debt = 100% - 0.0666 = 0.9334
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 = -0.8789
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + -0.8789 * 5.94 + 0 = -0.024
WACC = (0.0904 / 23.14) * (100% - 0.0666) * (1 - 0.21) + -0.024 + 0.0666 = 0.3067
Terminal Value = Discount (0.2914 * (1 + -1.85) / (0.3067 - -1.85)) = -0.1314
Company Value = ∑ (0.2914 / (1 + 0.3067) ^ 5) = 0.4374
Price = (Terminal Value + Company Value) / Count shares = (-0.1314 + 0.4374) / 270840000 = 1.13