OTC: SMTEF - Smart Eye AB (publ)

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 = -0.2201
CAGR EPS = 9.16%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 5.43 + (5.43 * 9.16% / 100) = 5.92

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) = -0.0047
Ebitda Yield = -0.213
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 = 0.000223
Debt = 0.005
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.005) = 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 = -2.15
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -2.15 * 5.94 + 0 = -0.1
WACC = (0.000223 / 0.005) * (100% - 0) * (1 - 0.21) + -0.1 + 0 = 3.52
Terminal Value = Discount (-0.0047 * (1 + -0.213) / (3.52 - -0.213)) = -0.0126
Company Value = ∑ (-0.0047 / (1 + 3.52) ^ 5) = -0.0371
Price = (Terminal Value + Company Value) / Count shares = (-0.0126 + -0.0371) / 33930000 = -1.47

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) = -0.1374
FCF Yield = 0.0189
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 = 0.000223
Debt = 0.005
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.005) = 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 = -2.15
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -2.15 * 5.94 + 0 = -0.1
WACC = (0.000223 / 0.005) * (100% - 0) * (1 - 0.21) + -0.1 + 0 = 3.52
Terminal Value = Discount (-0.1374 * (1 + 0.0189) / (3.52 - 0.0189)) = -7.22
Company Value = ∑ (-0.1374 / (1 + 3.52) ^ 5) = -0.5965
Price = (Terminal Value + Company Value) / Count shares = (-7.22 + -0.5965) / 33930000 = -230.3