NASDAQ: STRS - Stratus Properties 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 = -1.84
CAGR EPS = 43.91%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 23.35 + (23.35 * 43.91% / 100) = 33.6

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) = 0.0011
Ebitda Yield = -1.61
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 = 1.5E-5
Debt = 0.1752
Market Cap = 0.2207
Weight Debt = Market Cap / (Market Cap + Debt) = 0.2207 / (0.2207 + 0.1752) = 0.5575
Weight Cost Debt = 100% - 0.5575 = 0.4425
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 = -2.52
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -2.52 * 5.94 + 0 = -0.121
WACC = (1.5E-5 / 0.1752) * (100% - 0.5575) * (1 - 0.21) + -0.121 + 0.5575 = -0.0608
Terminal Value = Discount (0.0011 * (1 + -1.61) / (-0.0608 - -1.61)) = -0.000404
Company Value = ∑ (0.0011 / (1 + -0.0608) ^ 5) = 0.0052
Price = (Terminal Value + Company Value) / Count shares = (-0.000404 + 0.0052) / 8000000 = 0.6006

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) = -0.1345
FCF Yield = 0.0671
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 = 1.5E-5
Debt = 0.1752
Market Cap = 0.2207
Weight Debt = Market Cap / (Market Cap + Debt) = 0.2207 / (0.2207 + 0.1752) = 0.5575
Weight Cost Debt = 100% - 0.5575 = 0.4425
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 = -2.52
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -2.52 * 5.94 + 0 = -0.121
WACC = (1.5E-5 / 0.1752) * (100% - 0.5575) * (1 - 0.21) + -0.121 + 0.5575 = -0.0608
Terminal Value = Discount (-0.1345 * (1 + 0.0671) / (-0.0608 - 0.0671)) = -2.13
Company Value = ∑ (-0.1345 / (1 + -0.0608) ^ 5) = -0.5942
Price = (Terminal Value + Company Value) / Count shares = (-2.13 + -0.5942) / 8000000 = -340.15