NSE: BFINVEST - BF Investment 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 = 115.15
CAGR EPS = 24.61%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 551.6 + (551.6 * 24.61% / 100) = 687.37

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) = 0.0866
Ebitda Yield = -0.2491
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 = 3.19
Debt = 0.2956
Market Cap = 14.33
Weight Debt = Market Cap / (Market Cap + Debt) = 14.33 / (14.33 + 0.2956) = 0.9798
Weight Cost Debt = 100% - 0.9798 = 0.0202
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) = 3
β = 5.19
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 5.19 * 5.94 + 0 = 0.3385
WACC = (3.19 / 0.2956) * (100% - 0.9798) * (1 - 0.21) + 0.3385 + 0.9798 = 844.02
Terminal Value = Discount (0.0866 * (1 + -0.2491) / (844.02 - -0.2491)) = 0
Company Value = ∑ (0.0866 / (1 + 844.02) ^ 5) = 0.0313
Price = (Terminal Value + Company Value) / Count shares = (0 + 0.0313) / 37670000 = 0.8318

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) = 0.1782
FCF Yield = 0.145
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 = 3.19
Debt = 0.2956
Market Cap = 14.33
Weight Debt = Market Cap / (Market Cap + Debt) = 14.33 / (14.33 + 0.2956) = 0.9798
Weight Cost Debt = 100% - 0.9798 = 0.0202
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) = 3
β = 5.19
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 5.19 * 5.94 + 0 = 0.3385
WACC = (3.19 / 0.2956) * (100% - 0.9798) * (1 - 0.21) + 0.3385 + 0.9798 = 844.02
Terminal Value = Discount (0.1782 * (1 + 0.145) / (844.02 - 0.145)) = 0
Company Value = ∑ (0.1782 / (1 + 844.02) ^ 5) = 0.0125
Price = (Terminal Value + Company Value) / Count shares = (0 + 0.0125) / 37670000 = 0.3319