NSE: GOCOLORS - Go Fashion (India) 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 = 15.32
CAGR EPS = 8.73%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 15.32 * (1 + 8.73%) / (0.0458 * 2) = 181.85

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) = 3.96
Ebitda Yield = 0.1029
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 = 0.3913
Debt = 4.69
Market Cap = 61.51
Weight Debt = Market Cap / (Market Cap + Debt) = 61.51 / (61.51 + 4.69) = 0.9291
Weight Cost Debt = 100% - 0.9291 = 0.0709
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 = 2.94
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 2.94 * 5.94 + 0 = 0.2019
WACC = (0.3913 / 4.69) * (100% - 0.9291) * (1 - 0.21) + 0.2019 + 0.9291 = 6.72
Terminal Value = Discount (3.96 * (1 + 0.1029) / (6.72 - 0.1029)) = 88.2
Company Value = ∑ (3.96 / (1 + 6.72) ^ 5) = 13.4
Price = (Terminal Value + Company Value) / Count shares = (88.2 + 13.4) / 54010000 = 1880.99

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) = 8.41
FCF Yield = 0.3578
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 = 0.3913
Debt = 4.69
Market Cap = 61.51
Weight Debt = Market Cap / (Market Cap + Debt) = 61.51 / (61.51 + 4.69) = 0.9291
Weight Cost Debt = 100% - 0.9291 = 0.0709
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 = 2.94
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 2.94 * 5.94 + 0 = 0.2019
WACC = (0.3913 / 4.69) * (100% - 0.9291) * (1 - 0.21) + 0.2019 + 0.9291 = 6.72
Terminal Value = Discount (8.41 * (1 + 0.3578) / (6.72 - 0.3578)) = 28.4
Company Value = ∑ (8.41 / (1 + 6.72) ^ 5) = 19.88
Price = (Terminal Value + Company Value) / Count shares = (28.4 + 19.88) / 54010000 = 893.94