HKEX: 2223 - Casablanca Group 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 = -0.018
CAGR EPS = -174.2%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0 + (0 * -174.2% / 100) = 0.1542

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) = 0.008
Ebitda Yield = -0.1564
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 = 0.0012
Debt = 0.0235
Market Cap = 0.0954
Weight Debt = Market Cap / (Market Cap + Debt) = 0.0954 / (0.0954 + 0.0235) = 0.8024
Weight Cost Debt = 100% - 0.8024 = 0.1976
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) = -0.7
β = -0.4473
Risk Premium = 18.88
Country Premium = 0.91
Cost Of Equity = -0.7 + -0.4473 * 18.88 + 0.91 = -0.0823
WACC = (0.0012 / 0.0235) * (100% - 0.8024) * (1 - 0.25) + -0.0823 + 0.8024 = 3.59
Terminal Value = Discount (0.008 * (1 + -0.1564) / (3.59 - -0.1564)) = 0.0296
Company Value = ∑ (0.008 / (1 + 3.59) ^ 5) = 0.053
Price = (Terminal Value + Company Value) / Count shares = (0.0296 + 0.053) / 257850000 = 0.3204

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) = 0.0034
FCF Yield = -0.15
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 = 0.0012
Debt = 0.0235
Market Cap = 0.0954
Weight Debt = Market Cap / (Market Cap + Debt) = 0.0954 / (0.0954 + 0.0235) = 0.8024
Weight Cost Debt = 100% - 0.8024 = 0.1976
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) = -0.7
β = -0.4473
Risk Premium = 18.88
Country Premium = 0.91
Cost Of Equity = -0.7 + -0.4473 * 18.88 + 0.91 = -0.0823
WACC = (0.0012 / 0.0235) * (100% - 0.8024) * (1 - 0.25) + -0.0823 + 0.8024 = 3.59
Terminal Value = Discount (0.0034 * (1 + -0.15) / (3.59 - -0.15)) = 0.0132
Company Value = ∑ (0.0034 / (1 + 3.59) ^ 5) = 0.0223
Price = (Terminal Value + Company Value) / Count shares = (0.0132 + 0.0223) / 257850000 = 0.1375