NYSE: ESMT - EngageSmart, LLC

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 = 0.1217
CAGR EPS = 41.24%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.1217 * (1 + 41.24%) / (0.0433 * 2) = 1.98

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) = 0.0512
Ebitda Yield = 0.1174
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 = 0.000497
Debt = 0.0318
Market Cap = 2.75
Weight Debt = Market Cap / (Market Cap + Debt) = 2.75 / (2.75 + 0.0318) = 0.9886
Weight Cost Debt = 100% - 0.9886 = 0.0114
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) = 2.89
β = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 0 * 5.94 + 0 = 0.0289
WACC = (0.000497 / 0.0318) * (100% - 0.9886) * (1 - 0.21) + 0.0289 + 0.9886 = 1.25
Terminal Value = Discount (0.0512 * (1 + 0.1174) / (1.25 - 0.1174)) = 0.5127
Company Value = ∑ (0.0512 / (1 + 1.25) ^ 5) = 0.1995
Price = (Terminal Value + Company Value) / Count shares = (0.5127 + 0.1995) / 169170000 = 4.21

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) = 0.1993
FCF Yield = 0.3094
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 = 0.000497
Debt = 0.0318
Market Cap = 2.75
Weight Debt = Market Cap / (Market Cap + Debt) = 2.75 / (2.75 + 0.0318) = 0.9886
Weight Cost Debt = 100% - 0.9886 = 0.0114
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) = 2.89
β = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 0 * 5.94 + 0 = 0.0289
WACC = (0.000497 / 0.0318) * (100% - 0.9886) * (1 - 0.21) + 0.0289 + 0.9886 = 1.25
Terminal Value = Discount (0.1993 * (1 + 0.3094) / (1.25 - 0.3094)) = 0.8259
Company Value = ∑ (0.1993 / (1 + 1.25) ^ 5) = 0.5976
Price = (Terminal Value + Company Value) / Count shares = (0.8259 + 0.5976) / 169170000 = 8.41