OTC: MCRPF - MicroPort Scientific Corporation

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 = -0.2625
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.9175 + (0.9175 * 8.66% / 100) = 0.997

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) = 0.1686
Ebitda Yield = -1.87
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 = 0.0927
Debt = 1.61
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 1.61) = 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) = 2.75
β = 2.01
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 2.01 * 5.94 + 0 = 0.1471
WACC = (0.0927 / 1.61) * (100% - 0) * (1 - 0.21) + 0.1471 + 0 = 4.54
Terminal Value = Discount (0.1686 * (1 + -1.87) / (4.54 - -1.87)) = -0.0612
Company Value = ∑ (0.1686 / (1 + 4.54) ^ 5) = 0.2186
Price = (Terminal Value + Company Value) / Count shares = (-0.0612 + 0.2186) / 1823930000 = 0.0863

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) = -1.59
FCF Yield = 0.2977
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 = 0.0927
Debt = 1.61
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 1.61) = 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) = 2.75
β = 2.01
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 2.01 * 5.94 + 0 = 0.1471
WACC = (0.0927 / 1.61) * (100% - 0) * (1 - 0.21) + 0.1471 + 0 = 4.54
Terminal Value = Discount (-1.59 * (1 + 0.2977) / (4.54 - 0.2977)) = -6.53
Company Value = ∑ (-1.59 / (1 + 4.54) ^ 5) = -4.32
Price = (Terminal Value + Company Value) / Count shares = (-6.53 + -4.32) / 1823930000 = -5.95