NSE: SURYODAY - Suryoday Small Finance Bank 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 = 20.19
CAGR EPS = 14.01%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 152.22 + (152.22 * 14.01% / 100) = 173.55

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) = 6.43
Ebitda Yield = 0.1367
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 = 6.26
Debt = 24.43
Market Cap = 17.34
Weight Debt = Market Cap / (Market Cap + Debt) = 17.34 / (17.34 + 24.43) = 0.4151
Weight Cost Debt = 100% - 0.4151 = 0.5849
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 = 4.56
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 4.56 * 5.94 + 0 = 0.2986
WACC = (6.26 / 24.43) * (100% - 0.4151) * (1 - 0.21) + 0.2986 + 0.4151 = 20.3
Terminal Value = Discount (6.43 * (1 + 0.1367) / (20.3 - 0.1367)) = 43.81
Company Value = ∑ (6.43 / (1 + 20.3) ^ 5) = 14.34
Price = (Terminal Value + Company Value) / Count shares = (43.81 + 14.34) / 106160000 = 547.8

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) = 13.96
FCF Yield = 0.0969
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 = 6.26
Debt = 24.43
Market Cap = 17.34
Weight Debt = Market Cap / (Market Cap + Debt) = 17.34 / (17.34 + 24.43) = 0.4151
Weight Cost Debt = 100% - 0.4151 = 0.5849
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 = 4.56
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 4.56 * 5.94 + 0 = 0.2986
WACC = (6.26 / 24.43) * (100% - 0.4151) * (1 - 0.21) + 0.2986 + 0.4151 = 20.3
Terminal Value = Discount (13.96 * (1 + 0.0969) / (20.3 - 0.0969)) = 57.31
Company Value = ∑ (13.96 / (1 + 20.3) ^ 5) = 33.61
Price = (Terminal Value + Company Value) / Count shares = (57.31 + 33.61) / 106160000 = 856.38