Price = Avg Price + (Avg Price * CAGR EPS% / 100)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — Nøkkelfrekvens
Excess Key Rate — Ønsket å overskride nøkkelhastigheten
EPS = 6.16
CAGR EPS = 11.12%
Key Rate = 0.0364
Excess Key Rate = 2
Price = 22.94 + (22.94 * 11.12% / 100) = 25.49

Price = (Terminal Value + Company Value) / Count shares
Price - Rettferdig pris
Terminal Value — Kostnad i post -prosessperioden
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) = 0.28
Ebitda Yield = 0.0809
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - Gjeldstjeneste
Debt - Gjeld, milliarder
Weight Debt - Vekten av kapitalisering i forhold til gjeld
Weight Cost Debt - Gjeldsvekt angående kapitalisering
Tax - Avgift
Interest Expense = 0.003
Debt = 0.0054
Market Cap = 0.48
Weight Debt = Market Cap / (Market Cap + Debt) = 0.48 / (0.48 + 0.0054) = 0.99
Weight Cost Debt = 100% - 0.99 = 0.01
Tax = 0.21
Cost Of Equity — Rabattrente
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — Læreplan for lønnsomhet
β (beta) — Bestemmer risikoen for en aksje (eiendel) i forhold til markedet og viser følsomheten til en endring i lønnsomheten til handlingen i forhold til en endring i markedsavkastning. Betakoeffisienten kan beregnes ikke bare for en egen handling, men også for en investeringsportefølje.
Risk Premium — Premium Risiko - en pris for risiko for investering i handlingen
Country Premium - Landsrisiko
k(f) = 3.06
β = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3.06 + 0 * 5.94 + 0 = 0.0306
WACC = (0.003 / 0.0054) * (100% - 0.99) * (1 - 0.21) + 0.0306 + 0.99 = 43.49
Terminal Value = Discount (0.28 * (1 + 0.0809) / (43.49 - 0.0809)) = 0.14
Company Value = ∑ (0.28 / (1 + 43.49) ^ 5) = 0.43
Price = (Terminal Value + Company Value) / Count shares = (0.14 + 0.43) / 24500000 = 23.42

Price = (Terminal Value + Company Value) / Count shares
Price - Rettferdig pris
Terminal Value — Kostnad i post -prosessperioden
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) = 0.22
FCF Yield = 0.0884
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - Gjeldstjeneste
Debt - Gjeld, milliarder
Weight Debt - Vekten av kapitalisering i forhold til gjeld
Weight Cost Debt - Gjeldsvekt angående kapitalisering
Tax - Avgift
Interest Expense = 0.003
Debt = 0.0054
Market Cap = 0.48
Weight Debt = Market Cap / (Market Cap + Debt) = 0.48 / (0.48 + 0.0054) = 0.99
Weight Cost Debt = 100% - 0.99 = 0.01
Tax = 0.21
Cost Of Equity — Rabattrente
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — Læreplan for lønnsomhet
β (beta) — Bestemmer risikoen for en aksje (eiendel) i forhold til markedet og viser følsomheten til en endring i lønnsomheten til handlingen i forhold til en endring i markedsavkastning. Betakoeffisienten kan beregnes ikke bare for en egen handling, men også for en investeringsportefølje.
Risk Premium — Premium Risiko - en pris for risiko for investering i handlingen
Country Premium - Landsrisiko
k(f) = 3.06
β = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3.06 + 0 * 5.94 + 0 = 0.0306
WACC = (0.003 / 0.0054) * (100% - 0.99) * (1 - 0.21) + 0.0306 + 0.99 = 43.49
Terminal Value = Discount (0.22 * (1 + 0.0884) / (43.49 - 0.0884)) = 0.11
Company Value = ∑ (0.22 / (1 + 43.49) ^ 5) = 0.33
Price = (Terminal Value + Company Value) / Count shares = (0.11 + 0.33) / 24500000 = 18.23