TSE: 4493 - Cyber Security Cloud, Inc.

Price = EPS * (1 + CAGR EPS) / (Key Rate * Excess Key Rate)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — Nøkkelrente
Excess Key Rate — Ønsket overskridelse av styringsrenten
EPS = 44.57
CAGR EPS = 21.72%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 44.57 * (1 + 21.72%) / (0.0458 * 2) = 592.29

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) = 1.93
Ebitda Yield = 0.2596
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 = 0.0013
Debt = 0.1842
Market Cap = 28.72
Weight Debt = Market Cap / (Market Cap + Debt) = 28.72 / (28.72 + 0.1842) = 0.9936
Weight Cost Debt = 100% - 0.9936 = 0.0064
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 = -2.37
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -2.37 * 5.94 + 0 = -0.1136
WACC = (0.0013 / 0.1842) * (100% - 0.9936) * (1 - 0.21) + -0.1136 + 0.9936 = 0.443
Terminal Value = Discount (1.93 * (1 + 0.2596) / (0.443 - 0.2596)) = 9.32
Company Value = ∑ (1.93 / (1 + 0.443) ^ 5) = 6.31
Price = (Terminal Value + Company Value) / Count shares = (9.32 + 6.31) / 9580000 = 1631.9

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) = 1.08
FCF Yield = 0.1798
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 = 0.0013
Debt = 0.1842
Market Cap = 28.72
Weight Debt = Market Cap / (Market Cap + Debt) = 28.72 / (28.72 + 0.1842) = 0.9936
Weight Cost Debt = 100% - 0.9936 = 0.0064
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 = -2.37
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -2.37 * 5.94 + 0 = -0.1136
WACC = (0.0013 / 0.1842) * (100% - 0.9936) * (1 - 0.21) + -0.1136 + 0.9936 = 0.443
Terminal Value = Discount (1.08 * (1 + 0.1798) / (0.443 - 0.1798)) = 7.1
Company Value = ∑ (1.08 / (1 + 0.443) ^ 5) = 3.93
Price = (Terminal Value + Company Value) / Count shares = (7.1 + 3.93) / 9580000 = 1151.48