NYSE: TCS - The Container Store Group

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 = -31.31
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 1.93 + (1.93 * 8.66% / 100) = 2.1

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) = 0.0031
Ebitda Yield = -1.55
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 = 0.0207
Debt = 0.616
Market Cap = 0.1305
Weight Debt = Market Cap / (Market Cap + Debt) = 0.1305 / (0.1305 + 0.616) = 0.1748
Weight Cost Debt = 100% - 0.1748 = 0.8252
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 = -8.96
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -8.96 * 5.94 + 0 = -0.5025
WACC = (0.0207 / 0.616) * (100% - 0.1748) * (1 - 0.21) + -0.5025 + 0.1748 = 2.56
Terminal Value = Discount (0.0031 * (1 + -1.55) / (2.56 - -1.55)) = -0.000971
Company Value = ∑ (0.0031 / (1 + 2.56) ^ 5) = 0.0221
Price = (Terminal Value + Company Value) / Count shares = (-0.000971 + 0.0221) / 3300000 = 6.42

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) = 0.0232
FCF Yield = 0.2748
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 = 0.0207
Debt = 0.616
Market Cap = 0.1305
Weight Debt = Market Cap / (Market Cap + Debt) = 0.1305 / (0.1305 + 0.616) = 0.1748
Weight Cost Debt = 100% - 0.1748 = 0.8252
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 = -8.96
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -8.96 * 5.94 + 0 = -0.5025
WACC = (0.0207 / 0.616) * (100% - 0.1748) * (1 - 0.21) + -0.5025 + 0.1748 = 2.56
Terminal Value = Discount (0.0232 * (1 + 0.2748) / (2.56 - 0.2748)) = 0.1047
Company Value = ∑ (0.0232 / (1 + 2.56) ^ 5) = 0.0694
Price = (Terminal Value + Company Value) / Count shares = (0.1047 + 0.0694) / 3300000 = 52.74