HKEX: 0020 - SenseTime Group Inc.

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 = -0.1924
CAGR EPS = 61.16%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 1.54 + (1.54 * 61.16% / 100) = 2.48

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) = -7.86
Ebitda Yield = 0.0816
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 = 0.1467
Debt = 4.61
Market Cap = 53.22
Weight Debt = Market Cap / (Market Cap + Debt) = 53.22 / (53.22 + 4.61) = 0.9203
Weight Cost Debt = 100% - 0.9203 = 0.0797
Tax = 0.25
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) = 0.3
β = 1.83
Risk Premium = 18.88
Country Premium = 0.91
Cost Of Equity = 0.3 + 1.83 * 18.88 + 0.91 = 0.3579
WACC = (0.1467 / 4.61) * (100% - 0.9203) * (1 - 0.25) + 0.3579 + 0.9203 = 2.69
Terminal Value = Discount (-7.86 * (1 + 0.0816) / (2.69 - 0.0816)) = -136.17
Company Value = ∑ (-7.86 / (1 + 2.69) ^ 5) = -31.1
Price = (Terminal Value + Company Value) / Count shares = (-136.17 + -31.1) / 33468930000 = -5

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) = -5.73
FCF Yield = 0.038
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 = 0.1467
Debt = 4.61
Market Cap = 53.22
Weight Debt = Market Cap / (Market Cap + Debt) = 53.22 / (53.22 + 4.61) = 0.9203
Weight Cost Debt = 100% - 0.9203 = 0.0797
Tax = 0.25
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) = 0.3
β = 1.83
Risk Premium = 18.88
Country Premium = 0.91
Cost Of Equity = 0.3 + 1.83 * 18.88 + 0.91 = 0.3579
WACC = (0.1467 / 4.61) * (100% - 0.9203) * (1 - 0.25) + 0.3579 + 0.9203 = 2.69
Terminal Value = Discount (-5.73 * (1 + 0.038) / (2.69 - 0.038)) = -470.51
Company Value = ∑ (-5.73 / (1 + 2.69) ^ 5) = -24.54
Price = (Terminal Value + Company Value) / Count shares = (-470.51 + -24.54) / 33468930000 = -14.79