OTC: NLLSF - Nel ASA

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 = -0.0139
CAGR EPS = -143.33%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0 + (0 * -143.33% / 100) = 0.0695

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 = -0.9768
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 = 0.0015
Debt = 0.0247
Market Cap = 1.82
Weight Debt = Market Cap / (Market Cap + Debt) = 1.82 / (1.82 + 0.0247) = 0.9866
Weight Cost Debt = 100% - 0.9866 = 0.0134
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 = 0.0916
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + 0.0916 * 5.94 + 0 = 0.0293
WACC = (0.0015 / 0.0247) * (100% - 0.9866) * (1 - 0.21) + 0.0293 + 0.9866 = 4.78
Terminal Value = Discount (0 * (1 + -0.9768) / (4.78 - -0.9768)) = 0
Company Value = ∑ (0 / (1 + 4.78) ^ 5) = -1.7E-5
Price = (Terminal Value + Company Value) / Count shares = (0 + -1.7E-5) / 1671000000 = -1.0E-5

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) = -0.0249
FCF Yield = -0.2227
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 = 0.0015
Debt = 0.0247
Market Cap = 1.82
Weight Debt = Market Cap / (Market Cap + Debt) = 1.82 / (1.82 + 0.0247) = 0.9866
Weight Cost Debt = 100% - 0.9866 = 0.0134
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 = 0.0916
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + 0.0916 * 5.94 + 0 = 0.0293
WACC = (0.0015 / 0.0247) * (100% - 0.9866) * (1 - 0.21) + 0.0293 + 0.9866 = 4.78
Terminal Value = Discount (-0.0249 * (1 + -0.2227) / (4.78 - -0.2227)) = -0.0567
Company Value = ∑ (-0.0249 / (1 + 4.78) ^ 5) = -0.1954
Price = (Terminal Value + Company Value) / Count shares = (-0.0567 + -0.1954) / 1671000000 = -0.1509