NYSE: DS - Drive Shack 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 = -0.4776
CAGR EPS = 9.16%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 0.3795 + (0.3795 * 9.16% / 100) = 0.4143

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) = 0.0011
Ebitda Yield = -1.63
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 = 0.0115
Debt = 0.2425
Market Cap = 0.0203
Weight Debt = Market Cap / (Market Cap + Debt) = 0.0203 / (0.0203 + 0.2425) = 0.0772
Weight Cost Debt = 100% - 0.0772 = 0.9228
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 = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 0 * 5.94 + 0 = 0.026
WACC = (0.0115 / 0.2425) * (100% - 0.0772) * (1 - 0.21) + 0.026 + 0.0772 = 3.75
Terminal Value = Discount (0.0011 * (1 + -1.63) / (3.75 - -1.63)) = -0.000358
Company Value = ∑ (0.0011 / (1 + 3.75) ^ 5) = 0.0045
Price = (Terminal Value + Company Value) / Count shares = (-0.000358 + 0.0045) / 92390000 = 0.0452

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) = -0.0273
FCF Yield = -0.0793
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 = 0.0115
Debt = 0.2425
Market Cap = 0.0203
Weight Debt = Market Cap / (Market Cap + Debt) = 0.0203 / (0.0203 + 0.2425) = 0.0772
Weight Cost Debt = 100% - 0.0772 = 0.9228
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 = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 0 * 5.94 + 0 = 0.026
WACC = (0.0115 / 0.2425) * (100% - 0.0772) * (1 - 0.21) + 0.026 + 0.0772 = 3.75
Terminal Value = Discount (-0.0273 * (1 + -0.0793) / (3.75 - -0.0793)) = -0.1793
Company Value = ∑ (-0.0273 / (1 + 3.75) ^ 5) = -0.1464
Price = (Terminal Value + Company Value) / Count shares = (-0.1793 + -0.1464) / 92390000 = -3.53