NYSE: LSE - London Stock Exchange

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 = 0.4798
CAGR EPS = 36.98%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 43.85 + (43.85 * 36.98% / 100) = 60.06

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) = 0.1164
Ebitda Yield = -0.0234
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 = 5.7E-5
Debt = 0.0012
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.0012) = 0
Weight Cost Debt = 100% - 0 = 1
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 = 19.98
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 19.98 * 5.94 + 0 = 1.21
WACC = (5.7E-5 / 0.0012) * (100% - 0) * (1 - 0.21) + 1.21 + 0 = 3.82
Terminal Value = Discount (0.1164 * (1 + -0.0234) / (3.82 - -0.0234)) = 1.53
Company Value = ∑ (0.1164 / (1 + 3.82) ^ 5) = 0.5471
Price = (Terminal Value + Company Value) / Count shares = (1.53 + 0.5471) / 16880000 = 122.9

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) = 0.0261
FCF Yield = 0.1272
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 = 5.7E-5
Debt = 0.0012
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.0012) = 0
Weight Cost Debt = 100% - 0 = 1
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 = 19.98
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 19.98 * 5.94 + 0 = 1.21
WACC = (5.7E-5 / 0.0012) * (100% - 0) * (1 - 0.21) + 1.21 + 0 = 3.82
Terminal Value = Discount (0.0261 * (1 + 0.1272) / (3.82 - 0.1272)) = 0.2743
Company Value = ∑ (0.0261 / (1 + 3.82) ^ 5) = 0.0925
Price = (Terminal Value + Company Value) / Count shares = (0.2743 + 0.0925) / 16880000 = 21.73