NASDAQ: TWNK - Hostess Brands, 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 = 1.19
CAGR EPS = 17.06%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 1.19 * (1 + 17.06%) / (0.0433 * 2) = 16.09

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) = 0.4512
Ebitda Yield = 0.0898
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 = 0.041
Debt = 1
Market Cap = 3.01
Weight Debt = Market Cap / (Market Cap + Debt) = 3.01 / (3.01 + 1) = 0.7501
Weight Cost Debt = 100% - 0.7501 = 0.2499
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 = (0.041 / 1) * (100% - 0.7501) * (1 - 0.21) + 0.0282 + 0.7501 = 3.23
Terminal Value = Discount (0.4512 * (1 + 0.0898) / (3.23 - 0.0898)) = 7.29
Company Value = ∑ (0.4512 / (1 + 3.23) ^ 5) = 1.73
Price = (Terminal Value + Company Value) / Count shares = (7.29 + 1.73) / 137920000 = 65.41

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) = 0.1273
FCF Yield = 0.0186
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 = 0.041
Debt = 1
Market Cap = 3.01
Weight Debt = Market Cap / (Market Cap + Debt) = 3.01 / (3.01 + 1) = 0.7501
Weight Cost Debt = 100% - 0.7501 = 0.2499
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 = (0.041 / 1) * (100% - 0.7501) * (1 - 0.21) + 0.0282 + 0.7501 = 3.23
Terminal Value = Discount (0.1273 * (1 + 0.0186) / (3.23 - 0.0186)) = 8.09
Company Value = ∑ (0.1273 / (1 + 3.23) ^ 5) = 0.5578
Price = (Terminal Value + Company Value) / Count shares = (8.09 + 0.5578) / 137920000 = 62.73