NASDAQ: STNE - StoneCo Ltd.

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 = 4.99
CAGR EPS = 10.33%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 13.6 + (13.6 * 10.33% / 100) = 15

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) = 6.74
Ebitda Yield = 0.1371
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 = 0.6954
Debt = 5.38
Market Cap = 3.86
Weight Debt = Market Cap / (Market Cap + Debt) = 3.86 / (3.86 + 5.38) = 0.4179
Weight Cost Debt = 100% - 0.4179 = 0.5821
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) = 3
β = 0.956
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0.956 * 5.94 + 0 = 0.0868
WACC = (0.6954 / 5.38) * (100% - 0.4179) * (1 - 0.21) + 0.0868 + 0.4179 = 10.21
Terminal Value = Discount (6.74 * (1 + 0.1371) / (10.21 - 0.1371)) = 134.9
Company Value = ∑ (6.74 / (1 + 10.21) ^ 5) = 19.48
Price = (Terminal Value + Company Value) / Count shares = (134.9 + 19.48) / 319270000 = 483.54

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) = 0.8122
FCF Yield = 0.1318
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 = 0.6954
Debt = 5.38
Market Cap = 3.86
Weight Debt = Market Cap / (Market Cap + Debt) = 3.86 / (3.86 + 5.38) = 0.4179
Weight Cost Debt = 100% - 0.4179 = 0.5821
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) = 3
β = 0.956
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0.956 * 5.94 + 0 = 0.0868
WACC = (0.6954 / 5.38) * (100% - 0.4179) * (1 - 0.21) + 0.0868 + 0.4179 = 10.21
Terminal Value = Discount (0.8122 * (1 + 0.1318) / (10.21 - 0.1318)) = 19.08
Company Value = ∑ (0.8122 / (1 + 10.21) ^ 5) = 2.37
Price = (Terminal Value + Company Value) / Count shares = (19.08 + 2.37) / 319270000 = 67.17