全部版块 我的主页
论坛 金融投资论坛 六区 金融学(理论版)
2034 1
2007-04-07

For example: China Mobile Limited (0941.hk)

if the market capitalization= # of outstanding share x stock price, what will the following answers be?
1. if the 75% equity interest held by company, 25% equity held by public investors, is the market value of equity = mkt cap/25%?

2. or mkt cap=MV of equity?

If I can not find the MV of debt, what can I do for it?

the cost of debt can be calculated YTM by the bond price and coupons. If I failed to find such information, what can the extreme decision be made?

Is the cost of equity calculated by CAPM? using the historical stock return against
historical mkt return or expected future return? what kind of risk-free rate should be
use? or using Gordon's model?

Please give me some suggestions

If you find some information about the China Mobile, please post the link for me.

Thanks all.

二维码

扫码加我 拉你入群

请注明:姓名-公司-职位

以便审核进群资格,未注明则拒绝

全部回复
2007-4-7 16:47:00

question 1, yes. but you need to check whether that 75% is prefered stock or not. if so, the prefered stock will be calculated as debt.

usually 30 year treasure bond as the risk free interest. if not available, I think we can use the bank saving rate for a 30 years note, annually componded.

Debt interest can be calculated by weight average of the non-current liability. Check whether the company has a ratio for Coverage of interest. Can get hint from this figure.

二维码

扫码加我 拉你入群

请注明:姓名-公司-职位

以便审核进群资格,未注明则拒绝

相关推荐
栏目导航
热门文章
推荐文章

说点什么

分享

扫码加好友,拉您进群
各岗位、行业、专业交流群