Required return
9%
2021 2022E
EPS
DPS
BPS
ROCE
RE (9%Charge)
Discount factor
PV RE
CV
PV CV
Value per share
18
kr 9,25
35,150
62,40
3,79
0,75
21,04
0,211
2,170
1,090
1,991
2023E
4,86
0,97
24,93
0,231
2,966
1,188
2,497
2024E
3,93
0,78
28,08
0,158
1,686
1,295
1,302
2025E
5,03
1
32,11
0,179
2,503
1,412
1,773
2026
5,49
1,09
36,51
0,171
2,600
1,539
1,690
54,082
ROCE IS HIGHER THAN REQUIRED RETURN.