NYSE: COO - The Cooper Companies

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 = 1.48
CAGR EPS = -30.83%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 1.48 * (1 + -30.83%) / (0.0458 * 2) = 11.15

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) = 0.7313
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 = 0.1053
Debt = 2.57
Market Cap = 18.27
Weight Debt = Market Cap / (Market Cap + Debt) = 18.27 / (18.27 + 2.57) = 0.8767
Weight Cost Debt = 100% - 0.8767 = 0.1233
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 = 1.94
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 1.94 * 5.94 + 0 = 0.1415
WACC = (0.1053 / 2.57) * (100% - 0.8767) * (1 - 0.21) + 0.1415 + 0.8767 = 3.33
Terminal Value = Discount (0.7313 * (1 + 0.0075) / (3.33 - 0.0075)) = 24.23
Company Value = ∑ (0.7313 / (1 + 3.33) ^ 5) = 3.27
Price = (Terminal Value + Company Value) / Count shares = (24.23 + 3.27) / 199200000 = 138.02

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) = 0.1265
FCF Yield = -0.1006
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 = 0.1053
Debt = 2.57
Market Cap = 18.27
Weight Debt = Market Cap / (Market Cap + Debt) = 18.27 / (18.27 + 2.57) = 0.8767
Weight Cost Debt = 100% - 0.8767 = 0.1233
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 = 1.94
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 1.94 * 5.94 + 0 = 0.1415
WACC = (0.1053 / 2.57) * (100% - 0.8767) * (1 - 0.21) + 0.1415 + 0.8767 = 3.33
Terminal Value = Discount (0.1265 * (1 + -0.1006) / (3.33 - -0.1006)) = 0.7208
Company Value = ∑ (0.1265 / (1 + 3.33) ^ 5) = 0.7225
Price = (Terminal Value + Company Value) / Count shares = (0.7208 + 0.7225) / 199200000 = 7.25