NASDAQ: RIOT - Riot Blockchain, Inc.

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 = 0.343
CAGR EPS = 23.49%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.343 * (1 + 23.49%) / (0.0433 * 2) = 4.89

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) = 14.42
Ebitda Yield = 1.14
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 = 0.002
Debt = 0.0289
Market Cap = 2.05
Weight Debt = Market Cap / (Market Cap + Debt) = 2.05 / (2.05 + 0.0289) = 0.9861
Weight Cost Debt = 100% - 0.9861 = 0.0139
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) = 2.39
β = 2.6
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + 2.6 * 5.94 + 0 = 0.1782
WACC = (0.002 / 0.0289) * (100% - 0.9861) * (1 - 0.21) + 0.1782 + 0.9861 = 5.56
Terminal Value = Discount (14.42 * (1 + 1.14) / (5.56 - 1.14)) = 21.75
Company Value = ∑ (14.42 / (1 + 5.56) ^ 5) = 21.11
Price = (Terminal Value + Company Value) / Count shares = (21.75 + 21.11) / 318930000 = 134.41

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) = -3.22
FCF Yield = 0.4538
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 = 0.002
Debt = 0.0289
Market Cap = 2.05
Weight Debt = Market Cap / (Market Cap + Debt) = 2.05 / (2.05 + 0.0289) = 0.9861
Weight Cost Debt = 100% - 0.9861 = 0.0139
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) = 2.39
β = 2.6
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + 2.6 * 5.94 + 0 = 0.1782
WACC = (0.002 / 0.0289) * (100% - 0.9861) * (1 - 0.21) + 0.1782 + 0.9861 = 5.56
Terminal Value = Discount (-3.22 * (1 + 0.4538) / (5.56 - 0.4538)) = -8.96
Company Value = ∑ (-3.22 / (1 + 5.56) ^ 5) = -7.15
Price = (Terminal Value + Company Value) / Count shares = (-8.96 + -7.15) / 318930000 = -50.53