NASDAQ: ICLK - iClick Interactive Asia 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 = -3.78
CAGR EPS = 15.64%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 6 + (6 * 15.64% / 100) = 6.93

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) = -0.1152
Ebitda Yield = 0.2651
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 = 0.0014
Debt = 0.0413
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.0413) = 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) = 2.89
β = 16.8
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 16.8 * 5.94 + 0 = 1.03
WACC = (0.0014 / 0.0413) * (100% - 0) * (1 - 0.21) + 1.03 + 0 = 2.73
Terminal Value = Discount (-0.1152 * (1 + 0.2651) / (2.73 - 0.2651)) = -0.5357
Company Value = ∑ (-0.1152 / (1 + 2.73) ^ 5) = -0.3465
Price = (Terminal Value + Company Value) / Count shares = (-0.5357 + -0.3465) / 50050000 = -17.63

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) = -0.0135
FCF Yield = -0.0707
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 = 0.0014
Debt = 0.0413
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.0413) = 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) = 2.89
β = 16.8
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 16.8 * 5.94 + 0 = 1.03
WACC = (0.0014 / 0.0413) * (100% - 0) * (1 - 0.21) + 1.03 + 0 = 2.73
Terminal Value = Discount (-0.0135 * (1 + -0.0707) / (2.73 - -0.0707)) = -0.1122
Company Value = ∑ (-0.0135 / (1 + 2.73) ^ 5) = -0.073
Price = (Terminal Value + Company Value) / Count shares = (-0.1122 + -0.073) / 50050000 = -3.7