NASDAQ: DSPG - DSP 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 = -0.13
CAGR EPS = 9.16%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 19.31 + (19.31 * 9.16% / 100) = 21.07

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) = 0.0015
Ebitda Yield = 0.1626
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
Debt = 0.012
Market Cap = 0.5328
Weight Debt = Market Cap / (Market Cap + Debt) = 0.5328 / (0.5328 + 0.012) = 0.978
Weight Cost Debt = 100% - 0.978 = 0.022
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) = 2.75
β = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 0 * 5.94 + 0 = 0.0275
WACC = (0 / 0.012) * (100% - 0.978) * (1 - 0.21) + 0.0275 + 0.978 = 0.0269
Terminal Value = Discount (0.0015 * (1 + 0.1626) / (0.0269 - 0.1626)) = 0.011
Company Value = ∑ (0.0015 / (1 + 0.0269) ^ 5) = 0.0058
Price = (Terminal Value + Company Value) / Count shares = (0.011 + 0.0058) / 23000000 = 0.7289

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) = 0.014
FCF Yield = 0
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
Debt = 0.012
Market Cap = 0.5328
Weight Debt = Market Cap / (Market Cap + Debt) = 0.5328 / (0.5328 + 0.012) = 0.978
Weight Cost Debt = 100% - 0.978 = 0.022
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) = 2.75
β = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 0 * 5.94 + 0 = 0.0275
WACC = (0 / 0.012) * (100% - 0.978) * (1 - 0.21) + 0.0275 + 0.978 = 0.0269
Terminal Value = Discount (0.014 * (1 + 0) / (0.0269 - 0)) = 51.99
Company Value = ∑ (0.014 / (1 + 0.0269) ^ 5) = 0.0699
Price = (Terminal Value + Company Value) / Count shares = (51.99 + 0.0699) / 23000000 = 2263.29