NSE: GTLINFRA - GTL Infrastructure 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 = -0.5232
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 1.73 + (1.73 * 8.66% / 100) = 1.87

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) = 4.77
Ebitda Yield = 0.0371
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 = 8.01
Debt = 39.01
Market Cap = 10.14
Weight Debt = Market Cap / (Market Cap + Debt) = 10.14 / (10.14 + 39.01) = 0.2063
Weight Cost Debt = 100% - 0.2063 = 0.7937
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 = 4.29
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 4.29 * 5.94 + 0 = 0.2847
WACC = (8.01 / 39.01) * (100% - 0.2063) * (1 - 0.21) + 0.2847 + 0.2063 = 16.24
Terminal Value = Discount (4.77 * (1 + 0.0371) / (16.24 - 0.0371)) = 18.6
Company Value = ∑ (4.77 / (1 + 16.24) ^ 5) = 14.29
Price = (Terminal Value + Company Value) / Count shares = (18.6 + 14.29) / 12917890000 = 2.55

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) = 0.8132
FCF Yield = -0.1272
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 = 8.01
Debt = 39.01
Market Cap = 10.14
Weight Debt = Market Cap / (Market Cap + Debt) = 10.14 / (10.14 + 39.01) = 0.2063
Weight Cost Debt = 100% - 0.2063 = 0.7937
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 = 4.29
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 4.29 * 5.94 + 0 = 0.2847
WACC = (8.01 / 39.01) * (100% - 0.2063) * (1 - 0.21) + 0.2847 + 0.2063 = 16.24
Terminal Value = Discount (0.8132 * (1 + -0.1272) / (16.24 - -0.1272)) = 1.15
Company Value = ∑ (0.8132 / (1 + 16.24) ^ 5) = 3.68
Price = (Terminal Value + Company Value) / Count shares = (1.15 + 3.68) / 12917890000 = 0.3746