US: AIFLY - Aiful Corp ADR

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 = 45.1
CAGR EPS = 183.05%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 1.02 + (1.02 * 183.05% / 100) = 2.89

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) = 98.46
Ebitda Yield = 0.3156
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 = 0.568
Debt = 664.9
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 664.9) = 0
Weight Cost Debt = 100% - 0 = 1
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) = 2.82
β = 0.3156
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0.3156 * 5.94 + 0 = 0.0469
WACC = (0.568 / 664.9) * (100% - 0) * (1 - 0.21) + 0.0469 + 0 = 0.0675
Terminal Value = Discount (98.46 * (1 + 0.3156) / (0.0675 - 0.3156)) = 409.91
Company Value = ∑ (98.46 / (1 + 0.0675) ^ 5) = 305.55
Price = (Terminal Value + Company Value) / Count shares = (409.91 + 305.55) / 483800000 = 1478.83

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) = -121.9
FCF Yield = 0.0765
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 = 0.568
Debt = 664.9
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 664.9) = 0
Weight Cost Debt = 100% - 0 = 1
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) = 2.82
β = 0.3156
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0.3156 * 5.94 + 0 = 0.0469
WACC = (0.568 / 664.9) * (100% - 0) * (1 - 0.21) + 0.0469 + 0 = 0.0675
Terminal Value = Discount (-121.9 * (1 + 0.0765) / (0.0675 - 0.0765)) = -1724.11
Company Value = ∑ (-121.9 / (1 + 0.0675) ^ 5) = -527.67
Price = (Terminal Value + Company Value) / Count shares = (-1724.11 + -527.67) / 483800000 = -4654.35