HKEX: 6978 - Immunotech Biopharm Ltd

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 = -0.6507
CAGR EPS = 90.55%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 3.38 + (3.38 * 90.55% / 100) = 6.43

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) = -1.37
Ebitda Yield = 0.418
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 = 0.0085
Debt = 0.1498
Market Cap = 1.91
Weight Debt = Market Cap / (Market Cap + Debt) = 1.91 / (1.91 + 0.1498) = 0.9273
Weight Cost Debt = 100% - 0.9273 = 0.0727
Tax = 0.25
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) = 0.5
β = -0.2892
Risk Premium = 18.88
Country Premium = 0.91
Cost Of Equity = 0.5 + -0.2892 * 18.88 + 0.91 = -0.0405
WACC = (0.0085 / 0.1498) * (100% - 0.9273) * (1 - 0.25) + -0.0405 + 0.9273 = 4.19
Terminal Value = Discount (-1.37 * (1 + 0.418) / (4.19 - 0.418)) = -4.21
Company Value = ∑ (-1.37 / (1 + 4.19) ^ 5) = -3.31
Price = (Terminal Value + Company Value) / Count shares = (-4.21 + -3.31) / 514580000 = -14.61

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) = -0.2718
FCF Yield = 0.0786
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 = 0.0085
Debt = 0.1498
Market Cap = 1.91
Weight Debt = Market Cap / (Market Cap + Debt) = 1.91 / (1.91 + 0.1498) = 0.9273
Weight Cost Debt = 100% - 0.9273 = 0.0727
Tax = 0.25
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) = 0.5
β = -0.2892
Risk Premium = 18.88
Country Premium = 0.91
Cost Of Equity = 0.5 + -0.2892 * 18.88 + 0.91 = -0.0405
WACC = (0.0085 / 0.1498) * (100% - 0.9273) * (1 - 0.25) + -0.0405 + 0.9273 = 4.19
Terminal Value = Discount (-0.2718 * (1 + 0.0786) / (4.19 - 0.0786)) = -6.5
Company Value = ∑ (-0.2718 / (1 + 4.19) ^ 5) = -1.03
Price = (Terminal Value + Company Value) / Count shares = (-6.5 + -1.03) / 514580000 = -14.63