NYSE: CDAY - Ceridian HCM Holding Inc.

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 = -0.4799
CAGR EPS = -184.57%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0 + (0 * -184.57% / 100) = 4.69

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) = 0.0664
Ebitda Yield = -0.0536
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 = 0.0286
Debt = 1.25
Market Cap = 10.87
Weight Debt = Market Cap / (Market Cap + Debt) = 10.87 / (10.87 + 1.25) = 0.8965
Weight Cost Debt = 100% - 0.8965 = 0.1035
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 = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0 * 5.94 + 0 = 0.0282
WACC = (0.0286 / 1.25) * (100% - 0.8965) * (1 - 0.21) + 0.0282 + 0.8965 = 1.81
Terminal Value = Discount (0.0664 * (1 + -0.0536) / (1.81 - -0.0536)) = 0.801
Company Value = ∑ (0.0664 / (1 + 1.81) ^ 5) = 0.3533
Price = (Terminal Value + Company Value) / Count shares = (0.801 + 0.3533) / 152940000 = 7.55

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 FCF(5) * (1 + FCF Yield) / (WACC - FCF Yield)
Company Value = ∑ (Discount FCF / (1 + WACC) ^ 5)
Discount FCF(5) = 0.2349
FCF Yield = 0.4601
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 = 0.0286
Debt = 1.25
Market Cap = 10.87
Weight Debt = Market Cap / (Market Cap + Debt) = 10.87 / (10.87 + 1.25) = 0.8965
Weight Cost Debt = 100% - 0.8965 = 0.1035
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 = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0 * 5.94 + 0 = 0.0282
WACC = (0.0286 / 1.25) * (100% - 0.8965) * (1 - 0.21) + 0.0282 + 0.8965 = 1.81
Terminal Value = Discount (0.2349 * (1 + 0.4601) / (1.81 - 0.4601)) = 0.7095
Company Value = ∑ (0.2349 / (1 + 1.81) ^ 5) = 0.5925
Price = (Terminal Value + Company Value) / Count shares = (0.7095 + 0.5925) / 152940000 = 8.51