NYSE: U - Unity Software Inc.

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 = -1.68
CAGR EPS = 0.2123%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 26.25 + (26.25 * 0.2123% / 100) = 26.3

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) = -1.98
Ebitda Yield = 0.2132
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 = 0.0235
Debt = 2.24
Market Cap = 13.19
Weight Debt = Market Cap / (Market Cap + Debt) = 13.19 / (13.19 + 2.24) = 0.8549
Weight Cost Debt = 100% - 0.8549 = 0.1451
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 = 0.9158
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0.9158 * 5.94 + 0 = 0.0844
WACC = (0.0235 / 2.24) * (100% - 0.8549) * (1 - 0.21) + 0.0844 + 0.8549 = 0.8957
Terminal Value = Discount (-1.98 * (1 + 0.2132) / (0.8957 - 0.2132)) = -11.27
Company Value = ∑ (-1.98 / (1 + 0.8957) ^ 5) = -6.79
Price = (Terminal Value + Company Value) / Count shares = (-11.27 + -6.79) / 395950000 = -45.62

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) = 2.87
FCF Yield = 0.5862
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 = 0.0235
Debt = 2.24
Market Cap = 13.19
Weight Debt = Market Cap / (Market Cap + Debt) = 13.19 / (13.19 + 2.24) = 0.8549
Weight Cost Debt = 100% - 0.8549 = 0.1451
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 = 0.9158
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0.9158 * 5.94 + 0 = 0.0844
WACC = (0.0235 / 2.24) * (100% - 0.8549) * (1 - 0.21) + 0.0844 + 0.8549 = 0.8957
Terminal Value = Discount (2.87 * (1 + 0.5862) / (0.8957 - 0.5862)) = 7.55
Company Value = ∑ (2.87 / (1 + 0.8957) ^ 5) = 6.76
Price = (Terminal Value + Company Value) / Count shares = (7.55 + 6.76) / 395950000 = 36.14