NYSE: SOLV - Solventum 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 = 4.01
CAGR EPS = 4.28%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 4.01 * (1 + 4.28%) / (0.0433 * 2) = 48.32

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) = 2.49
Ebitda Yield = 0.0208
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 = 8.33
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 8.33) = 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) = 3
β = 1.48
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 1.48 * 5.94 + 0 = 0.1179
WACC = (0 / 8.33) * (100% - 0) * (1 - 0.21) + 0.1179 + 0 = 0
Terminal Value = Discount (2.49 * (1 + 0.0208) / (0 - 0.0208)) = 122.58
Company Value = ∑ (2.49 / (1 + 0) ^ 5) = 11.96
Price = (Terminal Value + Company Value) / Count shares = (122.58 + 11.96) / 172710000 = 778.99

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) = 1.5
FCF Yield = -0.0152
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 = 8.33
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 8.33) = 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) = 3
β = 1.48
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 1.48 * 5.94 + 0 = 0.1179
WACC = (0 / 8.33) * (100% - 0) * (1 - 0.21) + 0.1179 + 0 = 0
Terminal Value = Discount (1.5 * (1 + -0.0152) / (0 - -0.0152)) = 97.21
Company Value = ∑ (1.5 / (1 + 0) ^ 5) = 7.76
Price = (Terminal Value + Company Value) / Count shares = (97.21 + 7.76) / 172710000 = 607.76