NYSE: INTT - inTEST Corporation

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 = 0.793
CAGR EPS = 28.83%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 10.64 + (10.64 * 28.83% / 100) = 13.71

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) = 0.0766
Ebitda Yield = 0.361
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 = 0.000679
Debt = 0.014
Market Cap = 0.2735
Weight Debt = Market Cap / (Market Cap + Debt) = 0.2735 / (0.2735 + 0.014) = 0.9514
Weight Cost Debt = 100% - 0.9514 = 0.0486
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 = 2.4
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 2.4 * 5.94 + 0 = 0.1713
WACC = (0.000679 / 0.014) * (100% - 0.9514) * (1 - 0.21) + 0.1713 + 0.9514 = 3.97
Terminal Value = Discount (0.0766 * (1 + 0.361) / (3.97 - 0.361)) = 0.2672
Company Value = ∑ (0.0766 / (1 + 3.97) ^ 5) = 0.1977
Price = (Terminal Value + Company Value) / Count shares = (0.2672 + 0.1977) / 11780000 = 39.46

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) = 0.0431
FCF Yield = 0.2366
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 = 0.000679
Debt = 0.014
Market Cap = 0.2735
Weight Debt = Market Cap / (Market Cap + Debt) = 0.2735 / (0.2735 + 0.014) = 0.9514
Weight Cost Debt = 100% - 0.9514 = 0.0486
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 = 2.4
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 2.4 * 5.94 + 0 = 0.1713
WACC = (0.000679 / 0.014) * (100% - 0.9514) * (1 - 0.21) + 0.1713 + 0.9514 = 3.97
Terminal Value = Discount (0.0431 * (1 + 0.2366) / (3.97 - 0.2366)) = 0.2229
Company Value = ∑ (0.0431 / (1 + 3.97) ^ 5) = 0.1293
Price = (Terminal Value + Company Value) / Count shares = (0.2229 + 0.1293) / 11780000 = 29.9