TSE: 4393 - Bank of Innovation,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 = 817.73
CAGR EPS = 53.69%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 5520 + (5520 * 53.69% / 100) = 8483.57

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) = 31.54
Ebitda Yield = 0.4493
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 = 0.006
Debt = 0.555
Market Cap = 24.26
Weight Debt = Market Cap / (Market Cap + Debt) = 24.26 / (24.26 + 0.555) = 0.9776
Weight Cost Debt = 100% - 0.9776 = 0.0224
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 = 2.04
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 2.04 * 5.94 + 0 = 0.1484
WACC = (0.006 / 0.555) * (100% - 0.9776) * (1 - 0.21) + 0.1484 + 0.9776 = 0.9908
Terminal Value = Discount (31.54 * (1 + 0.4493) / (0.9908 - 0.4493)) = 99.02
Company Value = ∑ (31.54 / (1 + 0.9908) ^ 5) = 82.76
Price = (Terminal Value + Company Value) / Count shares = (99.02 + 82.76) / 4029999 = 45106.04

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) = 39.4
FCF Yield = 0.5015
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 = 0.006
Debt = 0.555
Market Cap = 24.26
Weight Debt = Market Cap / (Market Cap + Debt) = 24.26 / (24.26 + 0.555) = 0.9776
Weight Cost Debt = 100% - 0.9776 = 0.0224
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 = 2.04
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 2.04 * 5.94 + 0 = 0.1484
WACC = (0.006 / 0.555) * (100% - 0.9776) * (1 - 0.21) + 0.1484 + 0.9776 = 0.9908
Terminal Value = Discount (39.4 * (1 + 0.5015) / (0.9908 - 0.5015)) = 114.55
Company Value = ∑ (39.4 / (1 + 0.9908) ^ 5) = 98.78
Price = (Terminal Value + Company Value) / Count shares = (114.55 + 98.78) / 4029999 = 52937.12