OTC: GYYMF - The Gym Group plc

Price = EPS * (1 + CAGR EPS) / (Key Rate * Excess Key Rate)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — Nøkkelrente
Excess Key Rate — Ønsket overskridelse av styringsrenten
EPS = 0.0321
CAGR EPS = 16.54%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.0321 * (1 + 16.54%) / (0.0433 * 2) = 0.432

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) = 0.1226
Ebitda Yield = 0.0604
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 = 0.0267
Debt = 0.0921
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.0921) = 0
Weight Cost Debt = 100% - 0 = 1
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) = 2.39
β = 0.6773
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + 0.6773 * 5.94 + 0 = 0.0641
WACC = (0.0267 / 0.0921) * (100% - 0) * (1 - 0.21) + 0.0641 + 0 = 22.9
Terminal Value = Discount (0.1226 * (1 + 0.0604) / (22.9 - 0.0604)) = 0.275
Company Value = ∑ (0.1226 / (1 + 22.9) ^ 5) = 0.3
Price = (Terminal Value + Company Value) / Count shares = (0.275 + 0.3) / 176810000 = 3.25

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) = 0.377
FCF Yield = 0.396
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 = 0.0267
Debt = 0.0921
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.0921) = 0
Weight Cost Debt = 100% - 0 = 1
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) = 2.39
β = 0.6773
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + 0.6773 * 5.94 + 0 = 0.0641
WACC = (0.0267 / 0.0921) * (100% - 0) * (1 - 0.21) + 0.0641 + 0 = 22.9
Terminal Value = Discount (0.377 * (1 + 0.396) / (22.9 - 0.396)) = 1.12
Company Value = ∑ (0.377 / (1 + 22.9) ^ 5) = 0.5295
Price = (Terminal Value + Company Value) / Count shares = (1.12 + 0.5295) / 176810000 = 9.35