NYSE: CPRI - Capri Holdings

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 = -1.96
CAGR EPS = 5.6%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 32.81 + (32.81 * 5.6% / 100) = 34.64

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) = -0.0509
Ebitda Yield = -0.1059
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 = 0.006
Debt = 3.58
Market Cap = 6.04
Weight Debt = Market Cap / (Market Cap + Debt) = 6.04 / (6.04 + 3.58) = 0.6282
Weight Cost Debt = 100% - 0.6282 = 0.3718
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 = 0.1442
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0.1442 * 5.94 + 0 = 0.0368
WACC = (0.006 / 3.58) * (100% - 0.6282) * (1 - 0.21) + 0.0368 + 0.6282 = 0.1548
Terminal Value = Discount (-0.0509 * (1 + -0.1059) / (0.1548 - -0.1059)) = -0.42
Company Value = ∑ (-0.0509 / (1 + 0.1548) ^ 5) = -0.3207
Price = (Terminal Value + Company Value) / Count shares = (-0.42 + -0.3207) / 117010000 = -6.33

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) = 0.0331
FCF Yield = -0.2269
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 = 0.006
Debt = 3.58
Market Cap = 6.04
Weight Debt = Market Cap / (Market Cap + Debt) = 6.04 / (6.04 + 3.58) = 0.6282
Weight Cost Debt = 100% - 0.6282 = 0.3718
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 = 0.1442
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0.1442 * 5.94 + 0 = 0.0368
WACC = (0.006 / 3.58) * (100% - 0.6282) * (1 - 0.21) + 0.0368 + 0.6282 = 0.1548
Terminal Value = Discount (0.0331 * (1 + -0.2269) / (0.1548 - -0.2269)) = 0.1113
Company Value = ∑ (0.0331 / (1 + 0.1548) ^ 5) = 0.2948
Price = (Terminal Value + Company Value) / Count shares = (0.1113 + 0.2948) / 117010000 = 3.47