BSE: SUBEX - Subex Limited

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 = -0.932
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 28.75 + (28.75 * 8.66% / 100) = 31.24

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) = -0.04
Ebitda Yield = -0.2921
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 = 0.0249
Debt = 0
Market Cap = 16.22
Weight Debt = Market Cap / (Market Cap + Debt) = 16.22 / (16.22 + 0) = 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) = 2.89
β = 2.61
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 2.61 * 5.94 + 0 = 0.1842
WACC = (0.0249 / 0) * (100% - 0) * (1 - 0.21) + 0.1842 + 0 = 0
Terminal Value = Discount (-0.04 * (1 + -0.2921) / (0 - -0.2921)) = -0.0969
Company Value = ∑ (-0.04 / (1 + 0) ^ 5) = -0.4481
Price = (Terminal Value + Company Value) / Count shares = (-0.0969 + -0.4481) / 549470000 = -0.9918

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) = 0.0792
FCF Yield = -0.1669
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 = 0.0249
Debt = 0
Market Cap = 16.22
Weight Debt = Market Cap / (Market Cap + Debt) = 16.22 / (16.22 + 0) = 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) = 2.89
β = 2.61
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 2.61 * 5.94 + 0 = 0.1842
WACC = (0.0249 / 0) * (100% - 0) * (1 - 0.21) + 0.1842 + 0 = 0
Terminal Value = Discount (0.0792 * (1 + -0.1669) / (0 - -0.1669)) = 0.3956
Company Value = ∑ (0.0792 / (1 + 0) ^ 5) = 0.59
Price = (Terminal Value + Company Value) / Count shares = (0.3956 + 0.59) / 549470000 = 1.79