TSE: 9348 - ispace, 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 = -4337.7
CAGR EPS = 207.51%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 775.5 + (775.5 * 207.51% / 100) = 2384.73

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) = -1955.33
Ebitda Yield = 0.1832
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 = 54.95
Debt = 1869.22
Market Cap = 138.16
Weight Debt = Market Cap / (Market Cap + Debt) = 138.16 / (138.16 + 1869.22) = 0.0688
Weight Cost Debt = 100% - 0.0688 = 0.9312
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) = 2.6
β = -1.45
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + -1.45 * 5.94 + 0 = -0.0599
WACC = (54.95 / 1869.22) * (100% - 0.0688) * (1 - 0.21) + -0.0599 + 0.0688 = 2.32
Terminal Value = Discount (-1955.33 * (1 + 0.1832) / (2.32 - 0.1832)) = -12891.74
Company Value = ∑ (-1955.33 / (1 + 2.32) ^ 5) = -6658.2
Price = (Terminal Value + Company Value) / Count shares = (-12891.74 + -6658.2) / 53900000 = -362707.68

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) = -2894.04
FCF Yield = 0.223
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 = 54.95
Debt = 1869.22
Market Cap = 138.16
Weight Debt = Market Cap / (Market Cap + Debt) = 138.16 / (138.16 + 1869.22) = 0.0688
Weight Cost Debt = 100% - 0.0688 = 0.9312
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) = 2.6
β = -1.45
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + -1.45 * 5.94 + 0 = -0.0599
WACC = (54.95 / 1869.22) * (100% - 0.0688) * (1 - 0.21) + -0.0599 + 0.0688 = 2.32
Terminal Value = Discount (-2894.04 * (1 + 0.223) / (2.32 - 0.223)) = -15796.13
Company Value = ∑ (-2894.04 / (1 + 2.32) ^ 5) = -9322.17
Price = (Terminal Value + Company Value) / Count shares = (-15796.13 + -9322.17) / 53900000 = -466016.68