TSE: 7816 - Snow Peak, 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 = 0.0528
CAGR EPS = -66.93%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.0528 * (1 + -66.93%) / (0.0433 * 2) = 0.2018

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) = 3.03
Ebitda Yield = 0.0598
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 = 0.039
Debt = 13.9
Market Cap = 72.06
Weight Debt = Market Cap / (Market Cap + Debt) = 72.06 / (72.06 + 13.9) = 0.8383
Weight Cost Debt = 100% - 0.8383 = 0.1617
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) = 3
β = 16.85
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 16.85 * 5.94 + 0 = 1.03
WACC = (0.039 / 13.9) * (100% - 0.8383) * (1 - 0.21) + 1.03 + 0.8383 = 1.08
Terminal Value = Discount (3.03 * (1 + 0.0598) / (1.08 - 0.0598)) = 62.15
Company Value = ∑ (3.03 / (1 + 1.08) ^ 5) = 13.08
Price = (Terminal Value + Company Value) / Count shares = (62.15 + 13.08) / 37850000 = 1987.68

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) = -13.76
FCF Yield = 0.311
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 = 0.039
Debt = 13.9
Market Cap = 72.06
Weight Debt = Market Cap / (Market Cap + Debt) = 72.06 / (72.06 + 13.9) = 0.8383
Weight Cost Debt = 100% - 0.8383 = 0.1617
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) = 3
β = 16.85
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 16.85 * 5.94 + 0 = 1.03
WACC = (0.039 / 13.9) * (100% - 0.8383) * (1 - 0.21) + 1.03 + 0.8383 = 1.08
Terminal Value = Discount (-13.76 * (1 + 0.311) / (1.08 - 0.311)) = -56.93
Company Value = ∑ (-13.76 / (1 + 1.08) ^ 5) = -41.42
Price = (Terminal Value + Company Value) / Count shares = (-56.93 + -41.42) / 37850000 = -2598.39