NYSE: SDRL - Seadrill Limited

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 = 4.05
CAGR EPS = 20.71%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 37.57 + (37.57 * 20.71% / 100) = 45.35

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) = 1.48
Ebitda Yield = 0.2448
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 = 0.059
Debt = 0.61
Market Cap = 3.83
Weight Debt = Market Cap / (Market Cap + Debt) = 3.83 / (3.83 + 0.61) = 0.8626
Weight Cost Debt = 100% - 0.8626 = 0.1374
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 = 4.08
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 4.08 * 5.94 + 0 = 0.2704
WACC = (0.059 / 0.61) * (100% - 0.8626) * (1 - 0.21) + 0.2704 + 0.8626 = 7.81
Terminal Value = Discount (1.48 * (1 + 0.2448) / (7.81 - 0.2448)) = 7.57
Company Value = ∑ (1.48 / (1 + 7.81) ^ 5) = 3.88
Price = (Terminal Value + Company Value) / Count shares = (7.57 + 3.88) / 74000000 = 154.75

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) = 0.4067
FCF Yield = 0.1693
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 = 0.059
Debt = 0.61
Market Cap = 3.83
Weight Debt = Market Cap / (Market Cap + Debt) = 3.83 / (3.83 + 0.61) = 0.8626
Weight Cost Debt = 100% - 0.8626 = 0.1374
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 = 4.08
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 4.08 * 5.94 + 0 = 0.2704
WACC = (0.059 / 0.61) * (100% - 0.8626) * (1 - 0.21) + 0.2704 + 0.8626 = 7.81
Terminal Value = Discount (0.4067 * (1 + 0.1693) / (7.81 - 0.1693)) = 3.58
Company Value = ∑ (0.4067 / (1 + 7.81) ^ 5) = 1.19
Price = (Terminal Value + Company Value) / Count shares = (3.58 + 1.19) / 74000000 = 64.49