NYSE: CLW - Clearwater Paper 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 = 11.7
CAGR EPS = 20.47%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 32.46 + (32.46 * 20.47% / 100) = 39.1

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) = 0.000731
Ebitda Yield = -1.41
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 = 0.0292
Debt = 0.4785
Market Cap = 0.6102
Weight Debt = Market Cap / (Market Cap + Debt) = 0.6102 / (0.6102 + 0.4785) = 0.5605
Weight Cost Debt = 100% - 0.5605 = 0.4395
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 = 2.91
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 2.91 * 5.94 + 0 = 0.2012
WACC = (0.0292 / 0.4785) * (100% - 0.5605) * (1 - 0.21) + 0.2012 + 0.5605 = 4.91
Terminal Value = Discount (0.000731 * (1 + -1.41) / (4.91 - -1.41)) = -0.000161
Company Value = ∑ (0.000731 / (1 + 4.91) ^ 5) = 0.0182
Price = (Terminal Value + Company Value) / Count shares = (-0.000161 + 0.0182) / 16780000 = 1.08

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) = 0.000661
FCF Yield = -1.41
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 = 0.0292
Debt = 0.4785
Market Cap = 0.6102
Weight Debt = Market Cap / (Market Cap + Debt) = 0.6102 / (0.6102 + 0.4785) = 0.5605
Weight Cost Debt = 100% - 0.5605 = 0.4395
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 = 2.91
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 2.91 * 5.94 + 0 = 0.2012
WACC = (0.0292 / 0.4785) * (100% - 0.5605) * (1 - 0.21) + 0.2012 + 0.5605 = 4.91
Terminal Value = Discount (0.000661 * (1 + -1.41) / (4.91 - -1.41)) = -0.000147
Company Value = ∑ (0.000661 / (1 + 4.91) ^ 5) = 0.0156
Price = (Terminal Value + Company Value) / Count shares = (-0.000147 + 0.0156) / 16780000 = 0.9229