NYSE: PSN - Parsons Corporation

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 = 1.4
CAGR EPS = 1.5%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 1.4 * (1 + 1.5%) / (0.0433 * 2) = 16.41

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 Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = 0.7041
Ebitda Yield = 0.1112
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 = 0.0315
Debt = 0.8045
Market Cap = 5.82
Weight Debt = Market Cap / (Market Cap + Debt) = 5.82 / (5.82 + 0.8045) = 0.8786
Weight Cost Debt = 100% - 0.8786 = 0.1214
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 = 4.96
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 4.96 * 5.94 + 0 = 0.3227
WACC = (0.0315 / 0.8045) * (100% - 0.8786) * (1 - 0.21) + 0.3227 + 0.8786 = 3.35
Terminal Value = Discount (0.7041 * (1 + 0.1112) / (3.35 - 0.1112)) = 8.53
Company Value = ∑ (0.7041 / (1 + 3.35) ^ 5) = 2.6
Price = (Terminal Value + Company Value) / Count shares = (8.53 + 2.6) / 115080000 = 96.72

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) = 0.7505
FCF Yield = 0.1536
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 = 0.0315
Debt = 0.8045
Market Cap = 5.82
Weight Debt = Market Cap / (Market Cap + Debt) = 5.82 / (5.82 + 0.8045) = 0.8786
Weight Cost Debt = 100% - 0.8786 = 0.1214
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 = 4.96
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 4.96 * 5.94 + 0 = 0.3227
WACC = (0.0315 / 0.8045) * (100% - 0.8786) * (1 - 0.21) + 0.3227 + 0.8786 = 3.35
Terminal Value = Discount (0.7505 * (1 + 0.1536) / (3.35 - 0.1536)) = 6.11
Company Value = ∑ (0.7505 / (1 + 3.35) ^ 5) = 2.59
Price = (Terminal Value + Company Value) / Count shares = (6.11 + 2.59) / 115080000 = 75.58