NYSE: GSX - GSX

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 = 2.63
CAGR EPS = 99.19%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 12.97 + (12.97 * 99.19% / 100) = 25.83

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) = -1.74
Ebitda Yield = 0.3105
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
Debt = 0.7968
Market Cap = 4.55
Weight Debt = Market Cap / (Market Cap + Debt) = 4.55 / (4.55 + 0.7968) = 0.8509
Weight Cost Debt = 100% - 0.8509 = 0.1491
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 = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0 * 5.94 + 0 = 0.03
WACC = (0 / 0.7968) * (100% - 0.8509) * (1 - 0.21) + 0.03 + 0.8509 = 0.0255
Terminal Value = Discount (-1.74 * (1 + 0.3105) / (0.0255 - 0.3105)) = -7.35
Company Value = ∑ (-1.74 / (1 + 0.0255) ^ 5) = -5.45
Price = (Terminal Value + Company Value) / Count shares = (-7.35 + -5.45) / 1127000000 = -11.36

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) = 1.41
FCF Yield = 0.3456
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
Debt = 0.7968
Market Cap = 4.55
Weight Debt = Market Cap / (Market Cap + Debt) = 4.55 / (4.55 + 0.7968) = 0.8509
Weight Cost Debt = 100% - 0.8509 = 0.1491
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 = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0 * 5.94 + 0 = 0.03
WACC = (0 / 0.7968) * (100% - 0.8509) * (1 - 0.21) + 0.03 + 0.8509 = 0.0255
Terminal Value = Discount (1.41 * (1 + 0.3456) / (0.0255 - 0.3456)) = 5.48
Company Value = ∑ (1.41 / (1 + 0.0255) ^ 5) = 4.24
Price = (Terminal Value + Company Value) / Count shares = (5.48 + 4.24) / 1127000000 = 8.62