NYSE: AMWD - American Woodmark Corporation

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 = 7.15
CAGR EPS = 10.11%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 80.76 + (80.76 * 10.11% / 100) = 88.92

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) = 0.248
Ebitda Yield = 0.0075
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 = 0.0082
Debt = 0.5085
Market Cap = 1.2
Weight Debt = Market Cap / (Market Cap + Debt) = 1.2 / (1.2 + 0.5085) = 0.7024
Weight Cost Debt = 100% - 0.7024 = 0.2976
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) = 2.82
β = 3.5
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 3.5 * 5.94 + 0 = 0.2358
WACC = (0.0082 / 0.5085) * (100% - 0.7024) * (1 - 0.21) + 0.2358 + 0.7024 = 1.43
Terminal Value = Discount (0.248 * (1 + 0.0075) / (1.43 - 0.0075)) = 34.05
Company Value = ∑ (0.248 / (1 + 1.43) ^ 5) = 1.17
Price = (Terminal Value + Company Value) / Count shares = (34.05 + 1.17) / 16260000 = 2166.03

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) = 0.135
FCF Yield = -0.0069
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 = 0.0082
Debt = 0.5085
Market Cap = 1.2
Weight Debt = Market Cap / (Market Cap + Debt) = 1.2 / (1.2 + 0.5085) = 0.7024
Weight Cost Debt = 100% - 0.7024 = 0.2976
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) = 2.82
β = 3.5
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 3.5 * 5.94 + 0 = 0.2358
WACC = (0.0082 / 0.5085) * (100% - 0.7024) * (1 - 0.21) + 0.2358 + 0.7024 = 1.43
Terminal Value = Discount (0.135 * (1 + -0.0069) / (1.43 - -0.0069)) = 5.89
Company Value = ∑ (0.135 / (1 + 1.43) ^ 5) = 0.6559
Price = (Terminal Value + Company Value) / Count shares = (5.89 + 0.6559) / 16260000 = 402.42