NYSE: TPH - TRI Pointe Group, 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 = 3.45
CAGR EPS = 18.59%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 33.91 + (33.91 * 18.59% / 100) = 40.21

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) = 0.7265
Ebitda Yield = 0.0982
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 = 0.1472
Debt = 1.43
Market Cap = 2.95
Weight Debt = Market Cap / (Market Cap + Debt) = 2.95 / (2.95 + 1.43) = 0.674
Weight Cost Debt = 100% - 0.674 = 0.326
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 = 3.32
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 3.32 * 5.94 + 0 = 0.2252
WACC = (0.1472 / 1.43) * (100% - 0.674) * (1 - 0.21) + 0.2252 + 0.674 = 8.25
Terminal Value = Discount (0.7265 * (1 + 0.0982) / (8.25 - 0.0982)) = 34.19
Company Value = ∑ (0.7265 / (1 + 8.25) ^ 5) = 2.38
Price = (Terminal Value + Company Value) / Count shares = (34.19 + 2.38) / 99700000 = 366.73

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) = 0.1126
FCF Yield = -0.079
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 = 0.1472
Debt = 1.43
Market Cap = 2.95
Weight Debt = Market Cap / (Market Cap + Debt) = 2.95 / (2.95 + 1.43) = 0.674
Weight Cost Debt = 100% - 0.674 = 0.326
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 = 3.32
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 3.32 * 5.94 + 0 = 0.2252
WACC = (0.1472 / 1.43) * (100% - 0.674) * (1 - 0.21) + 0.2252 + 0.674 = 8.25
Terminal Value = Discount (0.1126 * (1 + -0.079) / (8.25 - -0.079)) = 0.4321
Company Value = ∑ (0.1126 / (1 + 8.25) ^ 5) = 0.537
Price = (Terminal Value + Company Value) / Count shares = (0.4321 + 0.537) / 99700000 = 9.72