NASDAQ: ALCE - Alternus Clean Energy 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 = -1.2
CAGR EPS = 38.51%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 5.37 + (5.37 * 38.51% / 100) = 7.44

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) = 0.0016
Ebitda Yield = -0.1468
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 = 0.0186
Debt = 0.199
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.199) = 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) = 2.6
β = -4.75
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + -4.75 * 5.94 + 0 = -0.256
WACC = (0.0186 / 0.199) * (100% - 0) * (1 - 0.21) + -0.256 + 0 = 7.37
Terminal Value = Discount (0.0016 * (1 + -0.1468) / (7.37 - -0.1468)) = 0.0044
Company Value = ∑ (0.0016 / (1 + 7.37) ^ 5) = 0.0095
Price = (Terminal Value + Company Value) / Count shares = (0.0044 + 0.0095) / 71930000 = 0.1937

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) = -0.00021
FCF Yield = -0.4584
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 = 0.0186
Debt = 0.199
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.199) = 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) = 2.6
β = -4.75
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + -4.75 * 5.94 + 0 = -0.256
WACC = (0.0186 / 0.199) * (100% - 0) * (1 - 0.21) + -0.256 + 0 = 7.37
Terminal Value = Discount (-0.00021 * (1 + -0.4584) / (7.37 - -0.4584)) = -0.00015
Company Value = ∑ (-0.00021 / (1 + 7.37) ^ 5) = -0.0044
Price = (Terminal Value + Company Value) / Count shares = (-0.00015 + -0.0044) / 71930000 = -0.0637