NSE: ABFRL - Aditya Birla Fashion and Retail Limited

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 = -6.51
CAGR EPS = 29.12%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 224.83 + (224.83 * 29.12% / 100) = 290.29

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) = 22.01
Ebitda Yield = 0.053
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 = 8.77
Debt = 94.51
Market Cap = 206.66
Weight Debt = Market Cap / (Market Cap + Debt) = 206.66 / (206.66 + 94.51) = 0.6862
Weight Cost Debt = 100% - 0.6862 = 0.3138
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 = 2.39
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 2.39 * 5.94 + 0 = 0.1701
WACC = (8.77 / 94.51) * (100% - 0.6862) * (1 - 0.21) + 0.1701 + 0.6862 = 7.39
Terminal Value = Discount (22.01 * (1 + 0.053) / (7.39 - 0.053)) = 774.75
Company Value = ∑ (22.01 / (1 + 7.39) ^ 5) = 80.17
Price = (Terminal Value + Company Value) / Count shares = (774.75 + 80.17) / 964340000 = 886.53

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) = 9.67
FCF Yield = 0.1023
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 = 8.77
Debt = 94.51
Market Cap = 206.66
Weight Debt = Market Cap / (Market Cap + Debt) = 206.66 / (206.66 + 94.51) = 0.6862
Weight Cost Debt = 100% - 0.6862 = 0.3138
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 = 2.39
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 2.39 * 5.94 + 0 = 0.1701
WACC = (8.77 / 94.51) * (100% - 0.6862) * (1 - 0.21) + 0.1701 + 0.6862 = 7.39
Terminal Value = Discount (9.67 * (1 + 0.1023) / (7.39 - 0.1023)) = 262.93
Company Value = ∑ (9.67 / (1 + 7.39) ^ 5) = 32.16
Price = (Terminal Value + Company Value) / Count shares = (262.93 + 32.16) / 964340000 = 306