NYSE: AAC - Ares Acquisition Corporation

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 = 0.4931
CAGR EPS = -58.31%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 0.4931 * (1 + -58.31%) / (0.0458 * 2) = 2.24

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) = -0.0062
Ebitda Yield = -0.1645
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 = 0.0283
Debt = 0.0015
Market Cap = 0.7574
Weight Debt = Market Cap / (Market Cap + Debt) = 0.7574 / (0.7574 + 0.0015) = 0.998
Weight Cost Debt = 100% - 0.998 = 0.002
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) = 2.6
β = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 0 * 5.94 + 0 = 0.026
WACC = (0.0283 / 0.0015) * (100% - 0.998) * (1 - 0.21) + 0.026 + 0.998 = 1475.62
Terminal Value = Discount (-0.0062 * (1 + -0.1645) / (1475.62 - -0.1645)) = 0
Company Value = ∑ (-0.0062 / (1 + 1475.62) ^ 5) = -0.000855
Price = (Terminal Value + Company Value) / Count shares = (0 + -0.000855) / 100000000 = -0.0085

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) = -0.0016
FCF Yield = 0.0161
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 = 0.0283
Debt = 0.0015
Market Cap = 0.7574
Weight Debt = Market Cap / (Market Cap + Debt) = 0.7574 / (0.7574 + 0.0015) = 0.998
Weight Cost Debt = 100% - 0.998 = 0.002
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) = 2.6
β = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 0 * 5.94 + 0 = 0.026
WACC = (0.0283 / 0.0015) * (100% - 0.998) * (1 - 0.21) + 0.026 + 0.998 = 1475.62
Terminal Value = Discount (-0.0016 * (1 + 0.0161) / (1475.62 - 0.0161)) = 0
Company Value = ∑ (-0.0016 / (1 + 1475.62) ^ 5) = -0.000103
Price = (Terminal Value + Company Value) / Count shares = (0 + -0.000103) / 100000000 = -0.001