SSE: 688110 - Dosilicon 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 = -0.6925
CAGR EPS = 26.43%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 30.78 + (30.78 * 26.43% / 100) = 38.91

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) = 2.32
Ebitda Yield = 0.5993
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 = 0.0032
Debt = 0.0695
Market Cap = 15.22
Weight Debt = Market Cap / (Market Cap + Debt) = 15.22 / (15.22 + 0.0695) = 0.9955
Weight Cost Debt = 100% - 0.9955 = 0.0044999999999999
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 = 1.04
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 1.04 * 5.94 + 0 = 0.0891
WACC = (0.0032 / 0.0695) * (100% - 0.9955) * (1 - 0.21) + 0.0891 + 0.9955 = 3.65
Terminal Value = Discount (2.32 * (1 + 0.5993) / (3.65 - 0.5993)) = 5.5
Company Value = ∑ (2.32 / (1 + 3.65) ^ 5) = 4.87
Price = (Terminal Value + Company Value) / Count shares = (5.5 + 4.87) / 442250000 = 23.46

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) = -0.4089
FCF Yield = 0.0444
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 = 0.0032
Debt = 0.0695
Market Cap = 15.22
Weight Debt = Market Cap / (Market Cap + Debt) = 15.22 / (15.22 + 0.0695) = 0.9955
Weight Cost Debt = 100% - 0.9955 = 0.0044999999999999
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 = 1.04
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 1.04 * 5.94 + 0 = 0.0891
WACC = (0.0032 / 0.0695) * (100% - 0.9955) * (1 - 0.21) + 0.0891 + 0.9955 = 3.65
Terminal Value = Discount (-0.4089 * (1 + 0.0444) / (3.65 - 0.0444)) = -45.34
Company Value = ∑ (-0.4089 / (1 + 3.65) ^ 5) = -1.68
Price = (Terminal Value + Company Value) / Count shares = (-45.34 + -1.68) / 442250000 = -106.34