NYSE: GNW - Genworth Financial, Inc.

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 = 0.16
CAGR EPS = -30.96%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.16 * (1 + -30.96%) / (0.0433 * 2) = 1.28

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 Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = 0.305
Ebitda 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 = 0.118
Debt = 1.59
Market Cap = 2.68
Weight Debt = Market Cap / (Market Cap + Debt) = 2.68 / (2.68 + 1.59) = 0.627
Weight Cost Debt = 100% - 0.627 = 0.373
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 = 1.84
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 1.84 * 5.94 + 0 = 0.1394
WACC = (0.118 / 1.59) * (100% - 0.627) * (1 - 0.21) + 0.1394 + 0.627 = 5.9
Terminal Value = Discount (0.305 * (1 + -0.0793) / (5.9 - -0.0793)) = 1.52
Company Value = ∑ (0.305 / (1 + 5.9) ^ 5) = 1.54
Price = (Terminal Value + Company Value) / Count shares = (1.52 + 1.54) / 474900000 = 6.46

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) = 0.2258
FCF Yield = -0.1767
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 = 0.118
Debt = 1.59
Market Cap = 2.68
Weight Debt = Market Cap / (Market Cap + Debt) = 2.68 / (2.68 + 1.59) = 0.627
Weight Cost Debt = 100% - 0.627 = 0.373
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 = 1.84
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 1.84 * 5.94 + 0 = 0.1394
WACC = (0.118 / 1.59) * (100% - 0.627) * (1 - 0.21) + 0.1394 + 0.627 = 5.9
Terminal Value = Discount (0.2258 * (1 + -0.1767) / (5.9 - -0.1767)) = 0.592
Company Value = ∑ (0.2258 / (1 + 5.9) ^ 5) = 1.49
Price = (Terminal Value + Company Value) / Count shares = (0.592 + 1.49) / 474900000 = 4.39