NASDAQ: LSAK - Lesaka Technologies, Inc.

Price = Avg Price + (Avg Price * CAGR EPS% / 100)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — 关键利率
Excess Key Rate — 期望超出关键利率
EPS = -0.2846
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 4.29 + (4.29 * 8.66% / 100) = 4.66

Price = (Terminal Value + Company Value) / Count shares
Price - 价格公道
Terminal Value — 预测后期间的成本
Company Value — 预测期内的成本
Count shares - 股份数量
Terminal Value = Discount Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = 0.0682
Ebitda Yield = 0.18
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - 偿债成本
Debt - 责任
Weight Debt - 相对于债务的资本权重
Weight Cost Debt - 债务权重相对于资本总额
Tax - 税
Interest Expense = 0.0189
Debt = 0.1667
Market Cap = 0.2311
Weight Debt = Market Cap / (Market Cap + Debt) = 0.2311 / (0.2311 + 0.1667) = 0.5809
Weight Cost Debt = 100% - 0.5809 = 0.4191
Tax = 0.21
Cost Of Equity — 贴现率
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — 无风险回报率
β (beta) — 确定股票（资产）相对于市场的风险度量，并显示股票盈利能力变化相对于市场盈利能力变化的敏感性。
Risk Premium — 风险溢价——投资股票的风险溢价
Country Premium - 国家风险
k(f) = 3
β = 0.618
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0.618 * 5.94 + 0 = 0.0667
WACC = (0.0189 / 0.1667) * (100% - 0.5809) * (1 - 0.21) + 0.0667 + 0.5809 = 8.96
Terminal Value = Discount (0.0682 * (1 + 0.18) / (8.96 - 0.18)) = 0.5794
Company Value = ∑ (0.0682 / (1 + 8.96) ^ 5) = 0.1904
Price = (Terminal Value + Company Value) / Count shares = (0.5794 + 0.1904) / 61280000 = 12.56

Price = (Terminal Value + Company Value) / Count shares
Price - 价格公道
Terminal Value — 预测后期间的成本
Company Value — 预测期内的成本
Count shares - 股份数量
Terminal Value = Discount FCF(5) * (1 + FCF Yield) / (WACC - FCF Yield)
Company Value = ∑ (Discount FCF / (1 + WACC) ^ 5)
Discount FCF(5) = 0.0312
FCF Yield = 0.1454
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - 偿债成本
Debt - 责任
Weight Debt - 相对于债务的资本权重
Weight Cost Debt - 债务权重相对于资本总额
Tax - 税
Interest Expense = 0.0189
Debt = 0.1667
Market Cap = 0.2311
Weight Debt = Market Cap / (Market Cap + Debt) = 0.2311 / (0.2311 + 0.1667) = 0.5809
Weight Cost Debt = 100% - 0.5809 = 0.4191
Tax = 0.21
Cost Of Equity — 贴现率
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — 无风险回报率
β (beta) — 确定股票（资产）相对于市场的风险度量，并显示股票盈利能力变化相对于市场盈利能力变化的敏感性。
Risk Premium — 风险溢价——投资股票的风险溢价
Country Premium - 国家风险
k(f) = 3
β = 0.618
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0.618 * 5.94 + 0 = 0.0667
WACC = (0.0189 / 0.1667) * (100% - 0.5809) * (1 - 0.21) + 0.0667 + 0.5809 = 8.96
Terminal Value = Discount (0.0312 * (1 + 0.1454) / (8.96 - 0.1454)) = 0.4172
Company Value = ∑ (0.0312 / (1 + 8.96) ^ 5) = 0.0922
Price = (Terminal Value + Company Value) / Count shares = (0.4172 + 0.0922) / 61280000 = 8.31