NASDAQ: WDC - Western Digital

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 = -2.45
CAGR EPS = 23.88%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 51.13 + (51.13 * 23.88% / 100) = 63.34

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) = 0.0821
Ebitda Yield = -0.2401
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 = 0.417
Debt = 7.43
Market Cap = 12.71
Weight Debt = Market Cap / (Market Cap + Debt) = 12.71 / (12.71 + 7.43) = 0.631
Weight Cost Debt = 100% - 0.631 = 0.369
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 = 4.76
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 4.76 * 5.94 + 0 = 0.3109
WACC = (0.417 / 7.43) * (100% - 0.631) * (1 - 0.21) + 0.3109 + 0.631 = 4.6
Terminal Value = Discount (0.0821 * (1 + -0.2401) / (4.6 - -0.2401)) = 0.1741
Company Value = ∑ (0.0821 / (1 + 4.6) ^ 5) = 0.6864
Price = (Terminal Value + Company Value) / Count shares = (0.1741 + 0.6864) / 326000000 = 2.64

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) = 0.4041
FCF Yield = -1.88
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 = 0.417
Debt = 7.43
Market Cap = 12.71
Weight Debt = Market Cap / (Market Cap + Debt) = 12.71 / (12.71 + 7.43) = 0.631
Weight Cost Debt = 100% - 0.631 = 0.369
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 = 4.76
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 4.76 * 5.94 + 0 = 0.3109
WACC = (0.417 / 7.43) * (100% - 0.631) * (1 - 0.21) + 0.3109 + 0.631 = 4.6
Terminal Value = Discount (0.4041 * (1 + -1.88) / (4.6 - -1.88)) = -0.1471
Company Value = ∑ (0.4041 / (1 + 4.6) ^ 5) = 0.5032
Price = (Terminal Value + Company Value) / Count shares = (-0.1471 + 0.5032) / 326000000 = 1.09