TSE: 4978 - ReproCELL Incorporated

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 = -0.3669
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 137 + (137 * 8.66% / 100) = 148.86

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) = 0.0145
Ebitda Yield = 0.1199
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 = 8.0E-5
Debt = 0.08
Market Cap = 25.82
Weight Debt = Market Cap / (Market Cap + Debt) = 25.82 / (25.82 + 0.08) = 0.9969
Weight Cost Debt = 100% - 0.9969 = 0.0031
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) = 2.89
β = 2.66
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 2.66 * 5.94 + 0 = 0.1869
WACC = (8.0E-5 / 0.08) * (100% - 0.9969) * (1 - 0.21) + 0.1869 + 0.9969 = 0.2646
Terminal Value = Discount (0.0145 * (1 + 0.1199) / (0.2646 - 0.1199)) = 0.1369
Company Value = ∑ (0.0145 / (1 + 0.2646) ^ 5) = 0.0581
Price = (Terminal Value + Company Value) / Count shares = (0.1369 + 0.0581) / 85620000 = 2.28

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) = -0.0685
FCF Yield = -0.1959
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 = 8.0E-5
Debt = 0.08
Market Cap = 25.82
Weight Debt = Market Cap / (Market Cap + Debt) = 25.82 / (25.82 + 0.08) = 0.9969
Weight Cost Debt = 100% - 0.9969 = 0.0031
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) = 2.89
β = 2.66
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 2.66 * 5.94 + 0 = 0.1869
WACC = (8.0E-5 / 0.08) * (100% - 0.9969) * (1 - 0.21) + 0.1869 + 0.9969 = 0.2646
Terminal Value = Discount (-0.0685 * (1 + -0.1959) / (0.2646 - -0.1959)) = -0.2738
Company Value = ∑ (-0.0685 / (1 + 0.2646) ^ 5) = -0.5517
Price = (Terminal Value + Company Value) / Count shares = (-0.2738 + -0.5517) / 85620000 = -9.64