TSE: 5243 - note 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 = -3989.59
CAGR EPS = 262.79%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 476 + (476 * 262.79% / 100) = 1726.87

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) = -99.59
Ebitda Yield = 0.1072
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 = 0.11
Debt = 23.21
Market Cap = 7.83
Weight Debt = Market Cap / (Market Cap + Debt) = 7.83 / (7.83 + 23.21) = 0.2523
Weight Cost Debt = 100% - 0.2523 = 0.7477
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 = -1.82
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -1.82 * 5.94 + 0 = -0.0806
WACC = (0.11 / 23.21) * (100% - 0.2523) * (1 - 0.21) + -0.0806 + 0.2523 = 0.3531
Terminal Value = Discount (-99.59 * (1 + 0.1072) / (0.3531 - 0.1072)) = -1044.67
Company Value = ∑ (-99.59 / (1 + 0.3531) ^ 5) = -405.77
Price = (Terminal Value + Company Value) / Count shares = (-1044.67 + -405.77) / 15090000 = -96119.25

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) = -94.69
FCF Yield = 0.12
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 = 0.11
Debt = 23.21
Market Cap = 7.83
Weight Debt = Market Cap / (Market Cap + Debt) = 7.83 / (7.83 + 23.21) = 0.2523
Weight Cost Debt = 100% - 0.2523 = 0.7477
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 = -1.82
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -1.82 * 5.94 + 0 = -0.0806
WACC = (0.11 / 23.21) * (100% - 0.2523) * (1 - 0.21) + -0.0806 + 0.2523 = 0.3531
Terminal Value = Discount (-94.69 * (1 + 0.12) / (0.3531 - 0.12)) = -894.4
Company Value = ∑ (-94.69 / (1 + 0.3531) ^ 5) = -377.95
Price = (Terminal Value + Company Value) / Count shares = (-894.4 + -377.95) / 15090000 = -84317.41