NYSE: WETF - WisdomTree Investments, 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 = 0.5672
CAGR EPS = 19.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 5.66 + (5.66 * 19.66% / 100) = 6.77

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) = 0.1488
Ebitda Yield = 0.0841
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 = 0.0149
Debt = 0.3223
Market Cap = 0.7883
Weight Debt = Market Cap / (Market Cap + Debt) = 0.7883 / (0.7883 + 0.3223) = 0.7098
Weight Cost Debt = 100% - 0.7098 = 0.2902
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 = (0.0149 / 0.3223) * (100% - 0.7098) * (1 - 0.21) + 0.0289 + 0.7098 = 3.65
Terminal Value = Discount (0.1488 * (1 + 0.0841) / (3.65 - 0.0841)) = 2.83
Company Value = ∑ (0.1488 / (1 + 3.65) ^ 5) = 0.5699
Price = (Terminal Value + Company Value) / Count shares = (2.83 + 0.5699) / 158950000 = 21.4

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) = 0.1106
FCF Yield = 0.1019
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 = 0.0149
Debt = 0.3223
Market Cap = 0.7883
Weight Debt = Market Cap / (Market Cap + Debt) = 0.7883 / (0.7883 + 0.3223) = 0.7098
Weight Cost Debt = 100% - 0.7098 = 0.2902
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 = (0.0149 / 0.3223) * (100% - 0.7098) * (1 - 0.21) + 0.0289 + 0.7098 = 3.65
Terminal Value = Discount (0.1106 * (1 + 0.1019) / (3.65 - 0.1019)) = 1.56
Company Value = ∑ (0.1106 / (1 + 3.65) ^ 5) = 0.4106
Price = (Terminal Value + Company Value) / Count shares = (1.56 + 0.4106) / 158950000 = 12.38