NSE: IDEA - Vodafone Idea 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 = -6.42
CAGR EPS = 9.16%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 10.58 + (10.58 * 9.16% / 100) = 11.55

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 Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = 186.46
Ebitda Yield = 0.0172
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 = 257.66
Debt = 2194.84
Market Cap = 385.54
Weight Debt = Market Cap / (Market Cap + Debt) = 385.54 / (385.54 + 2194.84) = 0.1494
Weight Cost Debt = 100% - 0.1494 = 0.8506
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 = -3.69
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -3.69 * 5.94 + 0 = -0.1916
WACC = (257.66 / 2194.84) * (100% - 0.1494) * (1 - 0.21) + -0.1916 + 0.1494 = 9.23
Terminal Value = Discount (186.46 * (1 + 0.0172) / (9.23 - 0.0172)) = 1622.62
Company Value = ∑ (186.46 / (1 + 9.23) ^ 5) = 694.93
Price = (Terminal Value + Company Value) / Count shares = (1622.62 + 694.93) / 34754390000 = 66.68

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) = 1845.65
FCF Yield = 0.6231
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 = 257.66
Debt = 2194.84
Market Cap = 385.54
Weight Debt = Market Cap / (Market Cap + Debt) = 385.54 / (385.54 + 2194.84) = 0.1494
Weight Cost Debt = 100% - 0.1494 = 0.8506
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 = -3.69
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -3.69 * 5.94 + 0 = -0.1916
WACC = (257.66 / 2194.84) * (100% - 0.1494) * (1 - 0.21) + -0.1916 + 0.1494 = 9.23
Terminal Value = Discount (1845.65 * (1 + 0.6231) / (9.23 - 0.6231)) = 3629.65
Company Value = ∑ (1845.65 / (1 + 9.23) ^ 5) = 3128.53
Price = (Terminal Value + Company Value) / Count shares = (3629.65 + 3128.53) / 34754390000 = 194.46