SSE: 600733 - BAIC BluePark New Energy Technology Co.,Ltd.

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 = -0.9688
CAGR EPS = 9.16%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 7.85 + (7.85 * 9.16% / 100) = 8.56

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) = 1.56
Ebitda Yield = -1.8
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 = 0.5195
Debt = 15
Market Cap = 30.88
Weight Debt = Market Cap / (Market Cap + Debt) = 30.88 / (30.88 + 15) = 0.6731
Weight Cost Debt = 100% - 0.6731 = 0.3269
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 = -0.1633
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -0.1633 * 5.94 + 0 = 0.0178
WACC = (0.5195 / 15) * (100% - 0.6731) * (1 - 0.21) + 0.0178 + 0.6731 = 2.73
Terminal Value = Discount (1.56 * (1 + -1.8) / (2.73 - -1.8)) = -0.5971
Company Value = ∑ (1.56 / (1 + 2.73) ^ 5) = 2.69
Price = (Terminal Value + Company Value) / Count shares = (-0.5971 + 2.69) / 5573500000 = 0.3746

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) = -1.07
FCF Yield = -0.1704
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 = 0.5195
Debt = 15
Market Cap = 30.88
Weight Debt = Market Cap / (Market Cap + Debt) = 30.88 / (30.88 + 15) = 0.6731
Weight Cost Debt = 100% - 0.6731 = 0.3269
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 = -0.1633
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -0.1633 * 5.94 + 0 = 0.0178
WACC = (0.5195 / 15) * (100% - 0.6731) * (1 - 0.21) + 0.0178 + 0.6731 = 2.73
Terminal Value = Discount (-1.07 * (1 + -0.1704) / (2.73 - -0.1704)) = -3.91
Company Value = ∑ (-1.07 / (1 + 2.73) ^ 5) = -7.47
Price = (Terminal Value + Company Value) / Count shares = (-3.91 + -7.47) / 5573500000 = -2.04