NYSE: VAL - Valaris 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 = 11.51
CAGR EPS = 44.77%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 55.3 + (55.3 * 44.77% / 100) = 80.06

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) = 0.0907
Ebitda Yield = -0.1863
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 = 0.0689
Debt = 1.11
Market Cap = 5.54
Weight Debt = Market Cap / (Market Cap + Debt) = 5.54 / (5.54 + 1.11) = 0.8335
Weight Cost Debt = 100% - 0.8335 = 0.1665
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) = 2.75
β = -3.38
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -3.38 * 5.94 + 0 = -0.1735
WACC = (0.0689 / 1.11) * (100% - 0.8335) * (1 - 0.21) + -0.1735 + 0.8335 = 4.73
Terminal Value = Discount (0.0907 * (1 + -0.1863) / (4.73 - -0.1863)) = 0.2506
Company Value = ∑ (0.0907 / (1 + 4.73) ^ 5) = 0.6347
Price = (Terminal Value + Company Value) / Count shares = (0.2506 + 0.6347) / 75200000 = 11.77

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) = -0.3772
FCF Yield = -0.0252
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 = 0.0689
Debt = 1.11
Market Cap = 5.54
Weight Debt = Market Cap / (Market Cap + Debt) = 5.54 / (5.54 + 1.11) = 0.8335
Weight Cost Debt = 100% - 0.8335 = 0.1665
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) = 2.75
β = -3.38
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -3.38 * 5.94 + 0 = -0.1735
WACC = (0.0689 / 1.11) * (100% - 0.8335) * (1 - 0.21) + -0.1735 + 0.8335 = 4.73
Terminal Value = Discount (-0.3772 * (1 + -0.0252) / (4.73 - -0.0252)) = -4.02
Company Value = ∑ (-0.3772 / (1 + 4.73) ^ 5) = -1.74
Price = (Terminal Value + Company Value) / Count shares = (-4.02 + -1.74) / 75200000 = -76.59