OTC: CHLLF - China Literature Limited

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 = 0.7905
CAGR EPS = 56.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 3.41 + (3.41 * 56.66% / 100) = 5.35

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) = 0.9571
Ebitda Yield = -0.0472
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 = 0.0197
Debt = 0.2381
Market Cap = 4.1
Weight Debt = Market Cap / (Market Cap + Debt) = 4.1 / (4.1 + 0.2381) = 0.9451
Weight Cost Debt = 100% - 0.9451 = 0.0549
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 = 0.2488
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0.2488 * 5.94 + 0 = 0.0448
WACC = (0.0197 / 0.2381) * (100% - 0.9451) * (1 - 0.21) + 0.0448 + 0.9451 = 6.5
Terminal Value = Discount (0.9571 * (1 + -0.0472) / (6.5 - -0.0472)) = 5.93
Company Value = ∑ (0.9571 / (1 + 6.5) ^ 5) = 4.42
Price = (Terminal Value + Company Value) / Count shares = (5.93 + 4.42) / 1018210000 = 10.16

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) = 1.46
FCF Yield = 0.0881
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 = 0.0197
Debt = 0.2381
Market Cap = 4.1
Weight Debt = Market Cap / (Market Cap + Debt) = 4.1 / (4.1 + 0.2381) = 0.9451
Weight Cost Debt = 100% - 0.9451 = 0.0549
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 = 0.2488
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0.2488 * 5.94 + 0 = 0.0448
WACC = (0.0197 / 0.2381) * (100% - 0.9451) * (1 - 0.21) + 0.0448 + 0.9451 = 6.5
Terminal Value = Discount (1.46 * (1 + 0.0881) / (6.5 - 0.0881)) = 50.1
Company Value = ∑ (1.46 / (1 + 6.5) ^ 5) = 5.09
Price = (Terminal Value + Company Value) / Count shares = (50.1 + 5.09) / 1018210000 = 54.2