NSE: VERANDA - Veranda Learning Solutions Limited

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 = -12.05
CAGR EPS = 221.48%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 263.62 + (263.62 * 221.48% / 100) = 847.48

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) = 32.44
Ebitda Yield = 1.28
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 = 0.7817
Debt = 5.83
Market Cap = 10.19
Weight Debt = Market Cap / (Market Cap + Debt) = 10.19 / (10.19 + 5.83) = 0.6359
Weight Cost Debt = 100% - 0.6359 = 0.3641
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 = 0.966
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0.966 * 5.94 + 0 = 0.0874
WACC = (0.7817 / 5.83) * (100% - 0.6359) * (1 - 0.21) + 0.0874 + 0.6359 = 10.57
Terminal Value = Discount (32.44 * (1 + 1.28) / (10.57 - 1.28)) = 38.07
Company Value = ∑ (32.44 / (1 + 10.57) ^ 5) = 37.05
Price = (Terminal Value + Company Value) / Count shares = (38.07 + 37.05) / 58040000 = 1294.35

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) = 14.15
FCF Yield = 1.54
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 = 0.7817
Debt = 5.83
Market Cap = 10.19
Weight Debt = Market Cap / (Market Cap + Debt) = 10.19 / (10.19 + 5.83) = 0.6359
Weight Cost Debt = 100% - 0.6359 = 0.3641
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 = 0.966
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0.966 * 5.94 + 0 = 0.0874
WACC = (0.7817 / 5.83) * (100% - 0.6359) * (1 - 0.21) + 0.0874 + 0.6359 = 10.57
Terminal Value = Discount (14.15 * (1 + 1.54) / (10.57 - 1.54)) = 15.16
Company Value = ∑ (14.15 / (1 + 10.57) ^ 5) = 14.92
Price = (Terminal Value + Company Value) / Count shares = (15.16 + 14.92) / 58040000 = 518.37