OTC: FMCC - Freddie Mac

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 = 16.21
CAGR EPS = 147.07%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 3.66 + (3.66 * 147.07% / 100) = 9.03

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) = 18.8
Ebitda Yield = 0.0232
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 = 86.82
Debt = 3214.17
Market Cap = 0.3779
Weight Debt = Market Cap / (Market Cap + Debt) = 0.3779 / (0.3779 + 3214.17) = 0.000118
Weight Cost Debt = 100% - 0.000118 = 0.999882
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 = 73.32
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 73.32 * 5.94 + 0 = 4.39
WACC = (86.82 / 3214.17) * (100% - 0.000118) * (1 - 0.21) + 4.39 + 0.000118 = 2.13
Terminal Value = Discount (18.8 * (1 + 0.0232) / (2.13 - 0.0232)) = 9091.61
Company Value = ∑ (18.8 / (1 + 2.13) ^ 5) = 84.25
Price = (Terminal Value + Company Value) / Count shares = (9091.61 + 84.25) / 650060000 = 14115.4

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) = 2.9
FCF Yield = -0.1187
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 = 86.82
Debt = 3214.17
Market Cap = 0.3779
Weight Debt = Market Cap / (Market Cap + Debt) = 0.3779 / (0.3779 + 3214.17) = 0.000118
Weight Cost Debt = 100% - 0.000118 = 0.999882
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 = 73.32
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 73.32 * 5.94 + 0 = 4.39
WACC = (86.82 / 3214.17) * (100% - 0.000118) * (1 - 0.21) + 4.39 + 0.000118 = 2.13
Terminal Value = Discount (2.9 * (1 + -0.1187) / (2.13 - -0.1187)) = 16.45
Company Value = ∑ (2.9 / (1 + 2.13) ^ 5) = 17.94
Price = (Terminal Value + Company Value) / Count shares = (16.45 + 17.94) / 650060000 = 52.9