NASDAQ: AZPN - Aspen

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 = -0.1534
CAGR EPS = -154.2%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0 + (0 * -154.2% / 100) = 0.9598

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) = 0.5232
Ebitda Yield = 0.0533
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 = 0.0035
Debt = 0.098
Market Cap = 12.37
Weight Debt = Market Cap / (Market Cap + Debt) = 12.37 / (12.37 + 0.098) = 0.9921
Weight Cost Debt = 100% - 0.9921 = 0.0079
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) = 2.82
β = -0.5776
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + -0.5776 * 5.94 + 0 = -0.0061
WACC = (0.0035 / 0.098) * (100% - 0.9921) * (1 - 0.21) + -0.0061 + 0.9921 = 2.79
Terminal Value = Discount (0.5232 * (1 + 0.0533) / (2.79 - 0.0533)) = 18.87
Company Value = ∑ (0.5232 / (1 + 2.79) ^ 5) = 2.17
Price = (Terminal Value + Company Value) / Count shares = (18.87 + 2.17) / 63710000 = 330.26

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) = 0.4362
FCF Yield = 0.054
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 = 0.0035
Debt = 0.098
Market Cap = 12.37
Weight Debt = Market Cap / (Market Cap + Debt) = 12.37 / (12.37 + 0.098) = 0.9921
Weight Cost Debt = 100% - 0.9921 = 0.0079
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) = 2.82
β = -0.5776
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + -0.5776 * 5.94 + 0 = -0.0061
WACC = (0.0035 / 0.098) * (100% - 0.9921) * (1 - 0.21) + -0.0061 + 0.9921 = 2.79
Terminal Value = Discount (0.4362 * (1 + 0.054) / (2.79 - 0.054)) = 15.31
Company Value = ∑ (0.4362 / (1 + 2.79) ^ 5) = 1.81
Price = (Terminal Value + Company Value) / Count shares = (15.31 + 1.81) / 63710000 = 268.77