NSE: HYBRIDFIN - Hybrid Financial Services 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 = 0.659
CAGR EPS = 26.26%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.659 * (1 + 26.26%) / (0.0433 * 2) = 9.61

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) = 0.0526
Ebitda Yield = 0.1843
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 = 0.000276
Debt = 0.021
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.021) = 0
Weight Cost Debt = 100% - 0 = 1
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 = 1.64
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.64 * 5.94 + 0 = 0.1254
WACC = (0.000276 / 0.021) * (100% - 0) * (1 - 0.21) + 0.1254 + 0 = 1.04
Terminal Value = Discount (0.0526 * (1 + 0.1843) / (1.04 - 0.1843)) = 0.3403
Company Value = ∑ (0.0526 / (1 + 1.04) ^ 5) = 0.1865
Price = (Terminal Value + Company Value) / Count shares = (0.3403 + 0.1865) / 29440000 = 17.89

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 FCF(5) * (1 + FCF Yield) / (WACC - FCF Yield)
Company Value = ∑ (Discount FCF / (1 + WACC) ^ 5)
Discount FCF(5) = 0.0151
FCF Yield = 0.1432
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 = 0.000276
Debt = 0.021
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.021) = 0
Weight Cost Debt = 100% - 0 = 1
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 = 1.64
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.64 * 5.94 + 0 = 0.1254
WACC = (0.000276 / 0.021) * (100% - 0) * (1 - 0.21) + 0.1254 + 0 = 1.04
Terminal Value = Discount (0.0151 * (1 + 0.1432) / (1.04 - 0.1432)) = 0.1232
Company Value = ∑ (0.0151 / (1 + 1.04) ^ 5) = 0.0568
Price = (Terminal Value + Company Value) / Count shares = (0.1232 + 0.0568) / 29440000 = 6.11