NYSE: FN - Fabrinet

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 = 8.1
CAGR EPS = 21.9%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 8.1 * (1 + 21.9%) / (0.0433 * 2) = 114.02

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 Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = 0.7246
Ebitda Yield = 0.1497
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 = 0.000124
Debt = 0.005
Market Cap = 4.28
Weight Debt = Market Cap / (Market Cap + Debt) = 4.28 / (4.28 + 0.005) = 0.9988
Weight Cost Debt = 100% - 0.9988 = 0.0012
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 = 1.49
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.49 * 5.94 + 0 = 0.1166
WACC = (0.000124 / 0.005) * (100% - 0.9988) * (1 - 0.21) + 0.1166 + 0.9988 = 2.06
Terminal Value = Discount (0.7246 * (1 + 0.1497) / (2.06 - 0.1497)) = 5.83
Company Value = ∑ (0.7246 / (1 + 2.06) ^ 5) = 2.61
Price = (Terminal Value + Company Value) / Count shares = (5.83 + 2.61) / 36560000 = 230.92

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) = 0.9954
FCF Yield = 0.2224
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 = 0.000124
Debt = 0.005
Market Cap = 4.28
Weight Debt = Market Cap / (Market Cap + Debt) = 4.28 / (4.28 + 0.005) = 0.9988
Weight Cost Debt = 100% - 0.9988 = 0.0012
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 = 1.49
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.49 * 5.94 + 0 = 0.1166
WACC = (0.000124 / 0.005) * (100% - 0.9988) * (1 - 0.21) + 0.1166 + 0.9988 = 2.06
Terminal Value = Discount (0.9954 * (1 + 0.2224) / (2.06 - 0.2224)) = 5.45
Company Value = ∑ (0.9954 / (1 + 2.06) ^ 5) = 3.24
Price = (Terminal Value + Company Value) / Count shares = (5.45 + 3.24) / 36560000 = 237.47