NSE: ASIANENE - Asian Energy Services Limited

Price = EPS * (1 + CAGR EPS) / (Key Rate * Excess Key Rate)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — Nøkkelrente
Excess Key Rate — Ønsket overskridelse av styringsrenten
EPS = 6.48
CAGR EPS = -3.43%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 6.48 * (1 + -3.43%) / (0.0433 * 2) = 72.26

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) = 0.3337
Ebitda Yield = -0.0629
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 = 0.0206
Debt = 0.2237
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.2237) = 0
Weight Cost Debt = 100% - 0 = 1
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 = 3.41
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 3.41 * 5.94 + 0 = 0.2308
WACC = (0.0206 / 0.2237) * (100% - 0) * (1 - 0.21) + 0.2308 + 0 = 7.28
Terminal Value = Discount (0.3337 * (1 + -0.0629) / (7.28 - -0.0629)) = 1.62
Company Value = ∑ (0.3337 / (1 + 7.28) ^ 5) = 1.57
Price = (Terminal Value + Company Value) / Count shares = (1.62 + 1.57) / 39300000 = 81.14

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) = 0.065
FCF 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 = 0.0206
Debt = 0.2237
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.2237) = 0
Weight Cost Debt = 100% - 0 = 1
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 = 3.41
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 3.41 * 5.94 + 0 = 0.2308
WACC = (0.0206 / 0.2237) * (100% - 0) * (1 - 0.21) + 0.2308 + 0 = 7.28
Terminal Value = Discount (0.065 * (1 + -1.61) / (7.28 - -1.61)) = -0.0165
Company Value = ∑ (0.065 / (1 + 7.28) ^ 5) = 0.3004
Price = (Terminal Value + Company Value) / Count shares = (-0.0165 + 0.3004) / 39300000 = 7.22