NASDAQ: ACHL - Achilles Therapeutics plc

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 = -1.75
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 1.25 + (1.25 * 8.66% / 100) = 1.35

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) = -0.2756
Ebitda Yield = 0.3137
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 = 0.0073
Debt = 0.0046
Market Cap = 0.0385
Weight Debt = Market Cap / (Market Cap + Debt) = 0.0385 / (0.0385 + 0.0046) = 0.893
Weight Cost Debt = 100% - 0.893 = 0.107
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 = -4.3
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + -4.3 * 5.94 + 0 = -0.2273
WACC = (0.0073 / 0.0046) * (100% - 0.893) * (1 - 0.21) + -0.2273 + 0.893 = 123.64
Terminal Value = Discount (-0.2756 * (1 + 0.3137) / (123.64 - 0.3137)) = -0.007
Company Value = ∑ (-0.2756 / (1 + 123.64) ^ 5) = -0.0933
Price = (Terminal Value + Company Value) / Count shares = (-0.007 + -0.0933) / 39970000 = -2.51

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) = -0.1317
FCF Yield = 0.216
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 = 0.0073
Debt = 0.0046
Market Cap = 0.0385
Weight Debt = Market Cap / (Market Cap + Debt) = 0.0385 / (0.0385 + 0.0046) = 0.893
Weight Cost Debt = 100% - 0.893 = 0.107
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 = -4.3
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + -4.3 * 5.94 + 0 = -0.2273
WACC = (0.0073 / 0.0046) * (100% - 0.893) * (1 - 0.21) + -0.2273 + 0.893 = 123.64
Terminal Value = Discount (-0.1317 * (1 + 0.216) / (123.64 - 0.216)) = -0.0028
Company Value = ∑ (-0.1317 / (1 + 123.64) ^ 5) = -0.0562
Price = (Terminal Value + Company Value) / Count shares = (-0.0028 + -0.0562) / 39970000 = -1.48