NYSE: DO - Diamond Offshore Drilling

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 = -0.439
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 14.1 + (14.1 * 8.66% / 100) = 15.32

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) = 0.2848
Ebitda Yield = 0.1251
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 = 0.0534
Debt = 0.5579
Market Cap = 1.63
Weight Debt = Market Cap / (Market Cap + Debt) = 1.63 / (1.63 + 0.5579) = 0.745
Weight Cost Debt = 100% - 0.745 = 0.255
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) = 2.39
β = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + 0 * 5.94 + 0 = 0.0239
WACC = (0.0534 / 0.5579) * (100% - 0.745) * (1 - 0.21) + 0.0239 + 0.745 = 7.53
Terminal Value = Discount (0.2848 * (1 + 0.1251) / (7.53 - 0.1251)) = 4.47
Company Value = ∑ (0.2848 / (1 + 7.53) ^ 5) = 0.9068
Price = (Terminal Value + Company Value) / Count shares = (4.47 + 0.9068) / 101840000 = 52.82

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) = -0.0558
FCF Yield = -0.1416
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 = 0.0534
Debt = 0.5579
Market Cap = 1.63
Weight Debt = Market Cap / (Market Cap + Debt) = 1.63 / (1.63 + 0.5579) = 0.745
Weight Cost Debt = 100% - 0.745 = 0.255
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) = 2.39
β = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + 0 * 5.94 + 0 = 0.0239
WACC = (0.0534 / 0.5579) * (100% - 0.745) * (1 - 0.21) + 0.0239 + 0.745 = 7.53
Terminal Value = Discount (-0.0558 * (1 + -0.1416) / (7.53 - -0.1416)) = -0.1536
Company Value = ∑ (-0.0558 / (1 + 7.53) ^ 5) = -0.3201
Price = (Terminal Value + Company Value) / Count shares = (-0.1536 + -0.3201) / 101840000 = -4.65