NASDAQ: MIME - Mimecast Limited

Price = EPS * (1 + CAGR EPS) / (Key Rate * Excess Key Rate)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — Nøkkelrente
Excess Key Rate — Ønsket overskridelse av styringsrenten
EPS = 0.6736
CAGR EPS = 38.6%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.6736 * (1 + 38.6%) / (0.0433 * 2) = 10.78

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) = 1.06
Ebitda Yield = 0.531
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 = 0.0021
Debt = 0.2087
Market Cap = 5.32
Weight Debt = Market Cap / (Market Cap + Debt) = 5.32 / (5.32 + 0.2087) = 0.9623
Weight Cost Debt = 100% - 0.9623 = 0.0377
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
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0 * 5.94 + 0 = 0.0282
WACC = (0.0021 / 0.2087) * (100% - 0.9623) * (1 - 0.21) + 0.0282 + 0.9623 = 0.8144
Terminal Value = Discount (1.06 * (1 + 0.531) / (0.8144 - 0.531)) = 2.98
Company Value = ∑ (1.06 / (1 + 0.8144) ^ 5) = 2.62
Price = (Terminal Value + Company Value) / Count shares = (2.98 + 2.62) / 70130000 = 79.85

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) = 0.8863
FCF Yield = 0.48
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 = 0.0021
Debt = 0.2087
Market Cap = 5.32
Weight Debt = Market Cap / (Market Cap + Debt) = 5.32 / (5.32 + 0.2087) = 0.9623
Weight Cost Debt = 100% - 0.9623 = 0.0377
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
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0 * 5.94 + 0 = 0.0282
WACC = (0.0021 / 0.2087) * (100% - 0.9623) * (1 - 0.21) + 0.0282 + 0.9623 = 0.8144
Terminal Value = Discount (0.8863 * (1 + 0.48) / (0.8144 - 0.48)) = 2.67
Company Value = ∑ (0.8863 / (1 + 0.8144) ^ 5) = 2.28
Price = (Terminal Value + Company Value) / Count shares = (2.67 + 2.28) / 70130000 = 70.54