NYSE: ELMD - Electromed, 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 = 0.581
CAGR EPS = 4.26%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.581 * (1 + 4.26%) / (0.0433 * 2) = 6.99

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) = 0.0089
Ebitda Yield = 0.0376
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 = 7.8E-5
Debt = 8.7E-5
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 8.7E-5) = 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) = 2.75
β = 9.45
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 9.45 * 5.94 + 0 = 0.5887
WACC = (7.8E-5 / 8.7E-5) * (100% - 0) * (1 - 0.21) + 0.5887 + 0 = 70.83
Terminal Value = Discount (0.0089 * (1 + 0.0376) / (70.83 - 0.0376)) = 0.000949
Company Value = ∑ (0.0089 / (1 + 70.83) ^ 5) = 0.0105
Price = (Terminal Value + Company Value) / Count shares = (0.000949 + 0.0105) / 8700000 = 1.32

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) = 0.0195
FCF Yield = 0.1765
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 = 7.8E-5
Debt = 8.7E-5
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 8.7E-5) = 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) = 2.75
β = 9.45
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 9.45 * 5.94 + 0 = 0.5887
WACC = (7.8E-5 / 8.7E-5) * (100% - 0) * (1 - 0.21) + 0.5887 + 0 = 70.83
Terminal Value = Discount (0.0195 * (1 + 0.1765) / (70.83 - 0.1765)) = 0.003
Company Value = ∑ (0.0195 / (1 + 70.83) ^ 5) = 0.0162
Price = (Terminal Value + Company Value) / Count shares = (0.003 + 0.0162) / 8700000 = 2.21