NASDAQ: TA - TravelCenters of America 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 = 11.4
CAGR EPS = 18.74%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 86 + (86 * 18.74% / 100) = 102.12

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) = 0.6013
Ebitda Yield = 0.1222
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 = 0.0418
Debt = 2.19
Market Cap = 1.3
Weight Debt = Market Cap / (Market Cap + Debt) = 1.3 / (1.3 + 2.19) = 0.3725
Weight Cost Debt = 100% - 0.3725 = 0.6275
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 = (0.0418 / 2.19) * (100% - 0.3725) * (1 - 0.21) + 0.0289 + 0.3725 = 1.51
Terminal Value = Discount (0.6013 * (1 + 0.1222) / (1.51 - 0.1222)) = 5.85
Company Value = ∑ (0.6013 / (1 + 1.51) ^ 5) = 2.31
Price = (Terminal Value + Company Value) / Count shares = (5.85 + 2.31) / 14400000 = 566.13

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) = -1.01
FCF Yield = 0.8884
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 = 0.0418
Debt = 2.19
Market Cap = 1.3
Weight Debt = Market Cap / (Market Cap + Debt) = 1.3 / (1.3 + 2.19) = 0.3725
Weight Cost Debt = 100% - 0.3725 = 0.6275
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 = (0.0418 / 2.19) * (100% - 0.3725) * (1 - 0.21) + 0.0289 + 0.3725 = 1.51
Terminal Value = Discount (-1.01 * (1 + 0.8884) / (1.51 - 0.8884)) = -2.02
Company Value = ∑ (-1.01 / (1 + 1.51) ^ 5) = -1.93
Price = (Terminal Value + Company Value) / Count shares = (-2.02 + -1.93) / 14400000 = -273.87