OTC: KNBWY - Kirin Holdings Company, 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 = 139.16
CAGR EPS = 191.25%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 13.99 + (13.99 * 191.25% / 100) = 40.75

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) = 29161.89
Ebitda Yield = 1.51
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 = 10.52
Debt = 675.81
Market Cap = 12.39
Weight Debt = Market Cap / (Market Cap + Debt) = 12.39 / (12.39 + 675.81) = 0.018
Weight Cost Debt = 100% - 0.018 = 0.982
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) = 2.39
β = -0.5586
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + -0.5586 * 5.94 + 0 = -0.0093
WACC = (10.52 / 675.81) * (100% - 0.018) * (1 - 0.21) + -0.0093 + 0.018 = 1.23
Terminal Value = Discount (29161.89 * (1 + 1.51) / (1.23 - 1.51)) = 46019.32
Company Value = ∑ (29161.89 / (1 + 1.23) ^ 5) = 45524.79
Price = (Terminal Value + Company Value) / Count shares = (46019.32 + 45524.79) / 809850000 = 113038.36

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) = 6884.44
FCF Yield = 1.38
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 = 10.52
Debt = 675.81
Market Cap = 12.39
Weight Debt = Market Cap / (Market Cap + Debt) = 12.39 / (12.39 + 675.81) = 0.018
Weight Cost Debt = 100% - 0.018 = 0.982
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) = 2.39
β = -0.5586
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + -0.5586 * 5.94 + 0 = -0.0093
WACC = (10.52 / 675.81) * (100% - 0.018) * (1 - 0.21) + -0.0093 + 0.018 = 1.23
Terminal Value = Discount (6884.44 * (1 + 1.38) / (1.23 - 1.38)) = 11255.68
Company Value = ∑ (6884.44 / (1 + 1.23) ^ 5) = 11100.31
Price = (Terminal Value + Company Value) / Count shares = (11255.68 + 11100.31) / 809850000 = 27605.1