OTC: HERXF - Héroux-Devtek 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 = 1.13
CAGR EPS = 2.61%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 1.13 * (1 + 2.61%) / (0.0433 * 2) = 13.34

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) = 0.0964
Ebitda Yield = 0.0021
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 = 0.0135
Debt = 0.218
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.218) = 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) = 2.82
β = 0.462
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0.462 * 5.94 + 0 = 0.0556
WACC = (0.0135 / 0.218) * (100% - 0) * (1 - 0.21) + 0.0556 + 0 = 4.91
Terminal Value = Discount (0.0964 * (1 + 0.0021) / (4.91 - 0.0021)) = 1.62
Company Value = ∑ (0.0964 / (1 + 4.91) ^ 5) = 0.4165
Price = (Terminal Value + Company Value) / Count shares = (1.62 + 0.4165) / 33990000 = 59.86

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) = 0.0026
FCF Yield = -1.61
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 = 0.0135
Debt = 0.218
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.218) = 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) = 2.82
β = 0.462
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0.462 * 5.94 + 0 = 0.0556
WACC = (0.0135 / 0.218) * (100% - 0) * (1 - 0.21) + 0.0556 + 0 = 4.91
Terminal Value = Discount (0.0026 * (1 + -1.61) / (4.91 - -1.61)) = -0.000743
Company Value = ∑ (0.0026 / (1 + 4.91) ^ 5) = 0.0123
Price = (Terminal Value + Company Value) / Count shares = (-0.000743 + 0.0123) / 33990000 = 0.3394