NYSE: DHY - Credit Suisse High Yield Bond Fund, 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 = -0.01
CAGR EPS = 0.0954%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 2.06 + (2.06 * 0.0954% / 100) = 2.06

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) = 0.0232
Ebitda Yield = 0.0112
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 = 0.0018
Debt = 0.0835
Market Cap = 0.1925
Weight Debt = Market Cap / (Market Cap + Debt) = 0.1925 / (0.1925 + 0.0835) = 0.6975
Weight Cost Debt = 100% - 0.6975 = 0.3025
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) = 3
β = -0.0148
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -0.0148 * 5.94 + 0 = 0.0291
WACC = (0.0018 / 0.0835) * (100% - 0.6975) * (1 - 0.21) + 0.0291 + 0.6975 = 1.73
Terminal Value = Discount (0.0232 * (1 + 0.0112) / (1.73 - 0.0112)) = 3.53
Company Value = ∑ (0.0232 / (1 + 1.73) ^ 5) = 0.1075
Price = (Terminal Value + Company Value) / Count shares = (3.53 + 0.1075) / 103000000 = 35.28

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) = 0.0232
FCF Yield = 0.0112
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 = 0.0018
Debt = 0.0835
Market Cap = 0.1925
Weight Debt = Market Cap / (Market Cap + Debt) = 0.1925 / (0.1925 + 0.0835) = 0.6975
Weight Cost Debt = 100% - 0.6975 = 0.3025
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) = 3
β = -0.0148
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -0.0148 * 5.94 + 0 = 0.0291
WACC = (0.0018 / 0.0835) * (100% - 0.6975) * (1 - 0.21) + 0.0291 + 0.6975 = 1.73
Terminal Value = Discount (0.0232 * (1 + 0.0112) / (1.73 - 0.0112)) = 3.53
Company Value = ∑ (0.0232 / (1 + 1.73) ^ 5) = 0.1075
Price = (Terminal Value + Company Value) / Count shares = (3.53 + 0.1075) / 103000000 = 35.28