OTC: FSRL - First Reliance Bancshares, Inc.

Price = EPS * (1 + CAGR EPS) / (Key Rate * Excess Key Rate)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — Nøkkelrente
Excess Key Rate — Ønsket overskridelse av styringsrenten
EPS = 0.5639
CAGR EPS = 2.15%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.5639 * (1 + 2.15%) / (0.0433 * 2) = 6.65

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
Ebitda Yield = -0.7494
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 = 0.0029
Debt = 0.0366
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.0366) = 0
Weight Cost Debt = 100% - 0 = 1
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 = 0.9577
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0.9577 * 5.94 + 0 = 0.0869
WACC = (0.0029 / 0.0366) * (100% - 0) * (1 - 0.21) + 0.0869 + 0 = 6.19
Terminal Value = Discount (0 * (1 + -0.7494) / (6.19 - -0.7494)) = 0
Company Value = ∑ (0 / (1 + 6.19) ^ 5) = 0
Price = (Terminal Value + Company Value) / Count shares = (0 + 0) / 8160000 = 0

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) = 0.0212
FCF Yield = 0.2039
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 = 0.0029
Debt = 0.0366
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.0366) = 0
Weight Cost Debt = 100% - 0 = 1
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 = 0.9577
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0.9577 * 5.94 + 0 = 0.0869
WACC = (0.0029 / 0.0366) * (100% - 0) * (1 - 0.21) + 0.0869 + 0 = 6.19
Terminal Value = Discount (0.0212 * (1 + 0.2039) / (6.19 - 0.2039)) = 0.1334
Company Value = ∑ (0.0212 / (1 + 6.19) ^ 5) = 0.0622
Price = (Terminal Value + Company Value) / Count shares = (0.1334 + 0.0622) / 8160000 = 23.97