OTC: LINRF - Liontown Resources 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 = -0.0276
CAGR EPS = 29.77%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.6058 + (0.6058 * 29.77% / 100) = 0.7861

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) = -0.2103
Ebitda Yield = 0.2881
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 = 0.0215
Debt = 0.4609
Market Cap = 3.94
Weight Debt = Market Cap / (Market Cap + Debt) = 3.94 / (3.94 + 0.4609) = 0.8953
Weight Cost Debt = 100% - 0.8953 = 0.1047
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 = 1.48
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.48 * 5.94 + 0 = 0.1159
WACC = (0.0215 / 0.4609) * (100% - 0.8953) * (1 - 0.21) + 0.1159 + 0.8953 = 3.76
Terminal Value = Discount (-0.2103 * (1 + 0.2881) / (3.76 - 0.2881)) = -0.8992
Company Value = ∑ (-0.2103 / (1 + 3.76) ^ 5) = -0.5943
Price = (Terminal Value + Company Value) / Count shares = (-0.8992 + -0.5943) / 2351550000 = -0.6351

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) = -18.21
FCF Yield = 0.912
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 = 0.0215
Debt = 0.4609
Market Cap = 3.94
Weight Debt = Market Cap / (Market Cap + Debt) = 3.94 / (3.94 + 0.4609) = 0.8953
Weight Cost Debt = 100% - 0.8953 = 0.1047
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 = 1.48
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.48 * 5.94 + 0 = 0.1159
WACC = (0.0215 / 0.4609) * (100% - 0.8953) * (1 - 0.21) + 0.1159 + 0.8953 = 3.76
Terminal Value = Discount (-18.21 * (1 + 0.912) / (3.76 - 0.912)) = -33.12
Company Value = ∑ (-18.21 / (1 + 3.76) ^ 5) = -31.56
Price = (Terminal Value + Company Value) / Count shares = (-33.12 + -31.56) / 2351550000 = -27.5