NSE: DISHTV - Dish TV India 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 = -10.22
CAGR EPS = 3.51%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 16.03 + (16.03 * 3.51% / 100) = 16.59

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 Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = 6.38
Ebitda Yield = 0.115
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 = 2.67
Debt = 0.0225
Market Cap = 27.51
Weight Debt = Market Cap / (Market Cap + Debt) = 27.51 / (27.51 + 0.0225) = 0.9992
Weight Cost Debt = 100% - 0.9992 = 0.00080000000000002
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 = 0.8813
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 0.8813 * 5.94 + 0 = 0.0798
WACC = (2.67 / 0.0225) * (100% - 0.9992) * (1 - 0.21) + 0.0798 + 0.9992 = 9281.77
Terminal Value = Discount (6.38 * (1 + 0.115) / (9281.77 - 0.115)) = 0
Company Value = ∑ (6.38 / (1 + 9281.77) ^ 5) = 0.0445
Price = (Terminal Value + Company Value) / Count shares = (0 + 0.0445) / 1923790000 = 0.0232

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) = 0.1153
FCF Yield = -0.3291
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 = 2.67
Debt = 0.0225
Market Cap = 27.51
Weight Debt = Market Cap / (Market Cap + Debt) = 27.51 / (27.51 + 0.0225) = 0.9992
Weight Cost Debt = 100% - 0.9992 = 0.00080000000000002
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 = 0.8813
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 0.8813 * 5.94 + 0 = 0.0798
WACC = (2.67 / 0.0225) * (100% - 0.9992) * (1 - 0.21) + 0.0798 + 0.9992 = 9281.77
Terminal Value = Discount (0.1153 * (1 + -0.3291) / (9281.77 - -0.3291)) = 0
Company Value = ∑ (0.1153 / (1 + 9281.77) ^ 5) = 0.0061
Price = (Terminal Value + Company Value) / Count shares = (0 + 0.0061) / 1923790000 = 0.0032