NYSE: MRC - MRC Global 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 = 1.05
CAGR EPS = 49.26%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 12.47 + (12.47 * 49.26% / 100) = 18.61

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) = 0.2833
Ebitda Yield = 0.0471
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 = 0.032
Debt = 0.335
Market Cap = 0.7679
Weight Debt = Market Cap / (Market Cap + Debt) = 0.7679 / (0.7679 + 0.335) = 0.6963
Weight Cost Debt = 100% - 0.6963 = 0.3037
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 = 4.35
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 4.35 * 5.94 + 0 = 0.2886
WACC = (0.032 / 0.335) * (100% - 0.6963) * (1 - 0.21) + 0.2886 + 0.6963 = 7.69
Terminal Value = Discount (0.2833 * (1 + 0.0471) / (7.69 - 0.0471)) = 6.87
Company Value = ∑ (0.2833 / (1 + 7.69) ^ 5) = 1.03
Price = (Terminal Value + Company Value) / Count shares = (6.87 + 1.03) / 85500000 = 92.41

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) = 0.1308
FCF Yield = -0.0465
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 = 0.032
Debt = 0.335
Market Cap = 0.7679
Weight Debt = Market Cap / (Market Cap + Debt) = 0.7679 / (0.7679 + 0.335) = 0.6963
Weight Cost Debt = 100% - 0.6963 = 0.3037
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 = 4.35
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 4.35 * 5.94 + 0 = 0.2886
WACC = (0.032 / 0.335) * (100% - 0.6963) * (1 - 0.21) + 0.2886 + 0.6963 = 7.69
Terminal Value = Discount (0.1308 * (1 + -0.0465) / (7.69 - -0.0465)) = 0.6972
Company Value = ∑ (0.1308 / (1 + 7.69) ^ 5) = 0.5846
Price = (Terminal Value + Company Value) / Count shares = (0.6972 + 0.5846) / 85500000 = 14.99