HKEX: 8659 - Yik Wo International Holdings 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 = 0.0368
CAGR EPS = 59.23%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.4675 + (0.4675 * 59.23% / 100) = 0.7444

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) = 0.0011
Ebitda Yield = -0.2659
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 = 0.000211
Debt = 0.0091
Market Cap = 0.509
Weight Debt = Market Cap / (Market Cap + Debt) = 0.509 / (0.509 + 0.0091) = 0.9824
Weight Cost Debt = 100% - 0.9824 = 0.0176
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 = -1.72
Risk Premium = 18.88
Country Premium = 0.91
Cost Of Equity = -0.7 + -1.72 * 18.88 + 0.91 = -0.322
WACC = (0.000211 / 0.0091) * (100% - 0.9824) * (1 - 0.25) + -0.322 + 0.9824 = 1.41
Terminal Value = Discount (0.0011 * (1 + -0.2659) / (1.41 - -0.2659)) = 0.0026
Company Value = ∑ (0.0011 / (1 + 1.41) ^ 5) = 0.0105
Price = (Terminal Value + Company Value) / Count shares = (0.0026 + 0.0105) / 748480000 = 0.0175

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) = 0.1245
FCF Yield = 0.1915
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 = 0.000211
Debt = 0.0091
Market Cap = 0.509
Weight Debt = Market Cap / (Market Cap + Debt) = 0.509 / (0.509 + 0.0091) = 0.9824
Weight Cost Debt = 100% - 0.9824 = 0.0176
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 = -1.72
Risk Premium = 18.88
Country Premium = 0.91
Cost Of Equity = -0.7 + -1.72 * 18.88 + 0.91 = -0.322
WACC = (0.000211 / 0.0091) * (100% - 0.9824) * (1 - 0.25) + -0.322 + 0.9824 = 1.41
Terminal Value = Discount (0.1245 * (1 + 0.1915) / (1.41 - 0.1915)) = 0.7797
Company Value = ∑ (0.1245 / (1 + 1.41) ^ 5) = 0.4316
Price = (Terminal Value + Company Value) / Count shares = (0.7797 + 0.4316) / 748480000 = 1.62