BSE: AFFLE - Affle (India) Limited

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 = 21.22
CAGR EPS = 38.62%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 21.22 * (1 + 38.62%) / (0.0433 * 2) = 339.62

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) = 13.03
Ebitda Yield = 0.3064
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 = 0.1413
Debt = 1.78
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 1.78) = 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) = 2.82
β = 1.08
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.08 * 5.94 + 0 = 0.0926
WACC = (0.1413 / 1.78) * (100% - 0) * (1 - 0.21) + 0.0926 + 0 = 6.28
Terminal Value = Discount (13.03 * (1 + 0.3064) / (6.28 - 0.3064)) = 51.53
Company Value = ∑ (13.03 / (1 + 6.28) ^ 5) = 33.17
Price = (Terminal Value + Company Value) / Count shares = (51.53 + 33.17) / 140100000 = 604.51

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) = 4.17
FCF Yield = 0.2323
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 = 0.1413
Debt = 1.78
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 1.78) = 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) = 2.82
β = 1.08
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.08 * 5.94 + 0 = 0.0926
WACC = (0.1413 / 1.78) * (100% - 0) * (1 - 0.21) + 0.0926 + 0 = 6.28
Terminal Value = Discount (4.17 * (1 + 0.2323) / (6.28 - 0.2323)) = 22.34
Company Value = ∑ (4.17 / (1 + 6.28) ^ 5) = 11.68
Price = (Terminal Value + Company Value) / Count shares = (22.34 + 11.68) / 140100000 = 242.86