NSE: HATHWAY - Hathway Cable and Datacom 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 = 0.561
CAGR EPS = -0.8668%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.561 * (1 + -0.8668%) / (0.0433 * 2) = 6.42

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) = 2.44
Ebitda Yield = -0.1052
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 = 0.0116
Debt = 0.1966
Market Cap = 27.17
Weight Debt = Market Cap / (Market Cap + Debt) = 27.17 / (27.17 + 0.1966) = 0.9928
Weight Cost Debt = 100% - 0.9928 = 0.0072
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) = 2.89
β = 2.08
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 2.08 * 5.94 + 0 = 0.1523
WACC = (0.0116 / 0.1966) * (100% - 0.9928) * (1 - 0.21) + 0.1523 + 0.9928 = 4.77
Terminal Value = Discount (2.44 * (1 + -0.1052) / (4.77 - -0.1052)) = 11.32
Company Value = ∑ (2.44 / (1 + 4.77) ^ 5) = 13.58
Price = (Terminal Value + Company Value) / Count shares = (11.32 + 13.58) / 1770100000 = 14.07

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) = 8.76
FCF Yield = -2.07
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 = 0.0116
Debt = 0.1966
Market Cap = 27.17
Weight Debt = Market Cap / (Market Cap + Debt) = 27.17 / (27.17 + 0.1966) = 0.9928
Weight Cost Debt = 100% - 0.9928 = 0.0072
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) = 2.89
β = 2.08
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 2.08 * 5.94 + 0 = 0.1523
WACC = (0.0116 / 0.1966) * (100% - 0.9928) * (1 - 0.21) + 0.1523 + 0.9928 = 4.77
Terminal Value = Discount (8.76 * (1 + -2.07) / (4.77 - -2.07)) = -3.5
Company Value = ∑ (8.76 / (1 + 4.77) ^ 5) = 6.68
Price = (Terminal Value + Company Value) / Count shares = (-3.5 + 6.68) / 1770100000 = 1.8