NASDAQ: INOD - Innodata 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 = -0.0323
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 25.58 + (25.58 * 8.66% / 100) = 27.79

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) = 0.0418
Ebitda Yield = 0.5269
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 = 0.000179
Debt = 0.0055
Market Cap = 0.281
Weight Debt = Market Cap / (Market Cap + Debt) = 0.281 / (0.281 + 0.0055) = 0.9809
Weight Cost Debt = 100% - 0.9809 = 0.0191
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 = 11.8
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 11.8 * 5.94 + 0 = 0.7296
WACC = (0.000179 / 0.0055) * (100% - 0.9809) * (1 - 0.21) + 0.7296 + 0.9809 = 3.27
Terminal Value = Discount (0.0418 * (1 + 0.5269) / (3.27 - 0.5269)) = 0.1099
Company Value = ∑ (0.0418 / (1 + 3.27) ^ 5) = 0.0944
Price = (Terminal Value + Company Value) / Count shares = (0.1099 + 0.0944) / 28130000 = 7.26

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) = 6.3E-5
FCF Yield = -0.2856
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 = 0.000179
Debt = 0.0055
Market Cap = 0.281
Weight Debt = Market Cap / (Market Cap + Debt) = 0.281 / (0.281 + 0.0055) = 0.9809
Weight Cost Debt = 100% - 0.9809 = 0.0191
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 = 11.8
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 11.8 * 5.94 + 0 = 0.7296
WACC = (0.000179 / 0.0055) * (100% - 0.9809) * (1 - 0.21) + 0.7296 + 0.9809 = 3.27
Terminal Value = Discount (6.3E-5 * (1 + -0.2856) / (3.27 - -0.2856)) = 0.000121
Company Value = ∑ (6.3E-5 / (1 + 3.27) ^ 5) = 0.00064
Price = (Terminal Value + Company Value) / Count shares = (0.000121 + 0.00064) / 28130000 = 0.027