NYSE: NET - Cloudflare

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 = -0.2308
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 97.33 + (97.33 * 8.66% / 100) = 105.76

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) = 0.1617
Ebitda Yield = 0.2112
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 = 0.0052
Debt = 1.46
Market Cap = 19.71
Weight Debt = Market Cap / (Market Cap + Debt) = 19.71 / (19.71 + 1.46) = 0.9309
Weight Cost Debt = 100% - 0.9309 = 0.0691
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) = 2.39
β = 0.3264
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + 0.3264 * 5.94 + 0 = 0.0433
WACC = (0.0052 / 1.46) * (100% - 0.9309) * (1 - 0.21) + 0.0433 + 0.9309 = 0.3182
Terminal Value = Discount (0.1617 * (1 + 0.2112) / (0.3182 - 0.2112)) = 0.9269
Company Value = ∑ (0.1617 / (1 + 0.3182) ^ 5) = 0.5656
Price = (Terminal Value + Company Value) / Count shares = (0.9269 + 0.5656) / 341410000 = 4.37

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) = 0.6253
FCF Yield = 0.2619
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 = 0.0052
Debt = 1.46
Market Cap = 19.71
Weight Debt = Market Cap / (Market Cap + Debt) = 19.71 / (19.71 + 1.46) = 0.9309
Weight Cost Debt = 100% - 0.9309 = 0.0691
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) = 2.39
β = 0.3264
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + 0.3264 * 5.94 + 0 = 0.0433
WACC = (0.0052 / 1.46) * (100% - 0.9309) * (1 - 0.21) + 0.0433 + 0.9309 = 0.3182
Terminal Value = Discount (0.6253 * (1 + 0.2619) / (0.3182 - 0.2619)) = 3
Company Value = ∑ (0.6253 / (1 + 0.3182) ^ 5) = 2.05
Price = (Terminal Value + Company Value) / Count shares = (3 + 2.05) / 341410000 = 14.79