SSE: 601360 - 360 Security Technology Inc.

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 = -0.0689
CAGR EPS = -160.03%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 0 + (0 * -160.03% / 100) = 0.4517

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) = 0.0344
Ebitda Yield = -1.43
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 = 0.0313
Debt = 0.9744
Market Cap = 85.6
Weight Debt = Market Cap / (Market Cap + Debt) = 85.6 / (85.6 + 0.9744) = 0.9887
Weight Cost Debt = 100% - 0.9887 = 0.0113
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) = 2.6
β = 3.21
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 3.21 * 5.94 + 0 = 0.2168
WACC = (0.0313 / 0.9744) * (100% - 0.9887) * (1 - 0.21) + 0.2168 + 0.9887 = 2.72
Terminal Value = Discount (0.0344 * (1 + -1.43) / (2.72 - -1.43)) = -0.0089
Company Value = ∑ (0.0344 / (1 + 2.72) ^ 5) = 0.6891
Price = (Terminal Value + Company Value) / Count shares = (-0.0089 + 0.6891) / 7145360000 = 0.0952

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) = 0.1229
FCF Yield = -0.2191
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 = 0.0313
Debt = 0.9744
Market Cap = 85.6
Weight Debt = Market Cap / (Market Cap + Debt) = 85.6 / (85.6 + 0.9744) = 0.9887
Weight Cost Debt = 100% - 0.9887 = 0.0113
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) = 2.6
β = 3.21
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 3.21 * 5.94 + 0 = 0.2168
WACC = (0.0313 / 0.9744) * (100% - 0.9887) * (1 - 0.21) + 0.2168 + 0.9887 = 2.72
Terminal Value = Discount (0.1229 * (1 + -0.2191) / (2.72 - -0.2191)) = 0.3408
Company Value = ∑ (0.1229 / (1 + 2.72) ^ 5) = 1
Price = (Terminal Value + Company Value) / Count shares = (0.3408 + 1) / 7145360000 = 0.1878