NYSE: SPRU - Spruce Power Holding 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 = -3.41
CAGR EPS = 101.3%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 3.32 + (3.32 * 101.3% / 100) = 6.68

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) = 0.0019
Ebitda Yield = 0.126
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 = 0.0419
Debt = 0.6199
Market Cap = 0.1331
Weight Debt = Market Cap / (Market Cap + Debt) = 0.1331 / (0.1331 + 0.6199) = 0.1767
Weight Cost Debt = 100% - 0.1767 = 0.8233
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 = 0.0588
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0.0588 * 5.94 + 0 = 0.0335
WACC = (0.0419 / 0.6199) * (100% - 0.1767) * (1 - 0.21) + 0.0335 + 0.1767 = 5.34
Terminal Value = Discount (0.0019 * (1 + 0.126) / (5.34 - 0.126)) = 0.0224
Company Value = ∑ (0.0019 / (1 + 5.34) ^ 5) = 0.0063
Price = (Terminal Value + Company Value) / Count shares = (0.0224 + 0.0063) / 18390000 = 1.56

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) = -0.0825
FCF Yield = 0.1929
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 = 0.0419
Debt = 0.6199
Market Cap = 0.1331
Weight Debt = Market Cap / (Market Cap + Debt) = 0.1331 / (0.1331 + 0.6199) = 0.1767
Weight Cost Debt = 100% - 0.1767 = 0.8233
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 = 0.0588
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0.0588 * 5.94 + 0 = 0.0335
WACC = (0.0419 / 0.6199) * (100% - 0.1767) * (1 - 0.21) + 0.0335 + 0.1767 = 5.34
Terminal Value = Discount (-0.0825 * (1 + 0.1929) / (5.34 - 0.1929)) = -0.544
Company Value = ∑ (-0.0825 / (1 + 5.34) ^ 5) = -0.2519
Price = (Terminal Value + Company Value) / Count shares = (-0.544 + -0.2519) / 18390000 = -43.28