NSE: HEMIPROP - Hemisphere Properties 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 = -0.3445
CAGR EPS = 66.93%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 157.2 + (157.2 * 66.93% / 100) = 262.41

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) = 0.0822
Ebitda 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 = 0.0644
Debt = 0.623
Market Cap = 27.45
Weight Debt = Market Cap / (Market Cap + Debt) = 27.45 / (27.45 + 0.623) = 0.9778
Weight Cost Debt = 100% - 0.9778 = 0.0222
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 = 0.0113
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 0.0113 * 5.94 + 0 = 0.0282
WACC = (0.0644 / 0.623) * (100% - 0.9778) * (1 - 0.21) + 0.0282 + 0.9778 = 8.12
Terminal Value = Discount (0.0822 * (1 + -2.07) / (8.12 - -2.07)) = -0.0277
Company Value = ∑ (0.0822 / (1 + 8.12) ^ 5) = 0.0566
Price = (Terminal Value + Company Value) / Count shares = (-0.0277 + 0.0566) / 285000000 = 0.1015

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) = -0.0033
FCF Yield = -0.4331
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 = 0.0644
Debt = 0.623
Market Cap = 27.45
Weight Debt = Market Cap / (Market Cap + Debt) = 27.45 / (27.45 + 0.623) = 0.9778
Weight Cost Debt = 100% - 0.9778 = 0.0222
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 = 0.0113
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 0.0113 * 5.94 + 0 = 0.0282
WACC = (0.0644 / 0.623) * (100% - 0.9778) * (1 - 0.21) + 0.0282 + 0.9778 = 8.12
Terminal Value = Discount (-0.0033 * (1 + -0.4331) / (8.12 - -0.4331)) = -0.0025
Company Value = ∑ (-0.0033 / (1 + 8.12) ^ 5) = -0.0605
Price = (Terminal Value + Company Value) / Count shares = (-0.0025 + -0.0605) / 285000000 = -0.2209