NSE: CSBBANK - CSB Bank 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 = 32.67
CAGR EPS = 105.82%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 338.9 + (338.9 * 105.82% / 100) = 697.53

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 Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = 0.2782
Ebitda Yield = -0.1292
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 = 14.51
Debt = 17.57
Market Cap = 46.79
Weight Debt = Market Cap / (Market Cap + Debt) = 46.79 / (46.79 + 17.57) = 0.727
Weight Cost Debt = 100% - 0.727 = 0.273
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) = 2.75
β = -1.22
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -1.22 * 5.94 + 0 = -0.0452
WACC = (14.51 / 17.57) * (100% - 0.727) * (1 - 0.21) + -0.0452 + 0.727 = 64.73
Terminal Value = Discount (0.2782 * (1 + -0.1292) / (64.73 - -0.1292)) = 0.0257
Company Value = ∑ (0.2782 / (1 + 64.73) ^ 5) = 0.5973
Price = (Terminal Value + Company Value) / Count shares = (0.0257 + 0.5973) / 173490000 = 3.59

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) = 14.12
FCF Yield = 0.1989
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 = 14.51
Debt = 17.57
Market Cap = 46.79
Weight Debt = Market Cap / (Market Cap + Debt) = 46.79 / (46.79 + 17.57) = 0.727
Weight Cost Debt = 100% - 0.727 = 0.273
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) = 2.75
β = -1.22
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -1.22 * 5.94 + 0 = -0.0452
WACC = (14.51 / 17.57) * (100% - 0.727) * (1 - 0.21) + -0.0452 + 0.727 = 64.73
Terminal Value = Discount (14.12 * (1 + 0.1989) / (64.73 - 0.1989)) = 3.11
Company Value = ∑ (14.12 / (1 + 64.73) ^ 5) = 12.13
Price = (Terminal Value + Company Value) / Count shares = (3.11 + 12.13) / 173490000 = 87.86