NYSE: GOGO - Gogo 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 = 1.09
CAGR EPS = 21.09%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 8.49 + (8.49 * 21.09% / 100) = 10.27

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) = 0.1258
Ebitda Yield = -0.0224
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 = 0.036
Debt = 0.605
Market Cap = 1.57
Weight Debt = Market Cap / (Market Cap + Debt) = 1.57 / (1.57 + 0.605) = 0.7218
Weight Cost Debt = 100% - 0.7218 = 0.2782
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) = 2.89
β = 4.06
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 4.06 * 5.94 + 0 = 0.27
WACC = (0.036 / 0.605) * (100% - 0.7218) * (1 - 0.21) + 0.27 + 0.7218 = 4.86
Terminal Value = Discount (0.1258 * (1 + -0.0224) / (4.86 - -0.0224)) = 1.37
Company Value = ∑ (0.1258 / (1 + 4.86) ^ 5) = 0.5735
Price = (Terminal Value + Company Value) / Count shares = (1.37 + 0.5735) / 133280000 = 14.55

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) = 0.1372
FCF Yield = 0.201
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 = 0.036
Debt = 0.605
Market Cap = 1.57
Weight Debt = Market Cap / (Market Cap + Debt) = 1.57 / (1.57 + 0.605) = 0.7218
Weight Cost Debt = 100% - 0.7218 = 0.2782
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) = 2.89
β = 4.06
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 4.06 * 5.94 + 0 = 0.27
WACC = (0.036 / 0.605) * (100% - 0.7218) * (1 - 0.21) + 0.27 + 0.7218 = 4.86
Terminal Value = Discount (0.1372 * (1 + 0.201) / (4.86 - 0.201)) = 0.8523
Company Value = ∑ (0.1372 / (1 + 4.86) ^ 5) = 0.42
Price = (Terminal Value + Company Value) / Count shares = (0.8523 + 0.42) / 133280000 = 9.55