OTC: FMCCS - Federal Home Loan Mortgage Corporation

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 = 7.87%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 4.89 + (4.89 * 7.87% / 100) = 5.27

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) = 11.81
Ebitda Yield = 0.0057
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 = 1.37
Weight Debt = Market Cap / (Market Cap + Debt) = 1.37 / (1.37 + 3214.17) = 0.000426
Weight Cost Debt = 100% - 0.000426 = 0.999574
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 = -0.8604
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -0.8604 * 5.94 + 0 = -0.0236
WACC = (86.82 / 3214.17) * (100% - 0.000426) * (1 - 0.21) + -0.0236 + 0.000426 = 2.13
Terminal Value = Discount (11.81 * (1 + 0.0057) / (2.13 - 0.0057)) = 684.43
Company Value = ∑ (11.81 / (1 + 2.13) ^ 5) = 54.79
Price = (Terminal Value + Company Value) / Count shares = (684.43 + 54.79) / 650060000 = 1137.17

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 = 1.37
Weight Debt = Market Cap / (Market Cap + Debt) = 1.37 / (1.37 + 3214.17) = 0.000426
Weight Cost Debt = 100% - 0.000426 = 0.999574
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 = -0.8604
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -0.8604 * 5.94 + 0 = -0.0236
WACC = (86.82 / 3214.17) * (100% - 0.000426) * (1 - 0.21) + -0.0236 + 0.000426 = 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