NASDAQ: ACRS - Aclaris Therapeutics, 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 = -1.27
CAGR EPS = 9.16%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 3.24 + (3.24 * 9.16% / 100) = 3.54

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) = -0.2176
Ebitda Yield = 0.1012
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 = 0.0047
Debt = 0.000426
Market Cap = 0.5062
Weight Debt = Market Cap / (Market Cap + Debt) = 0.5062 / (0.5062 + 0.000426) = 0.9992
Weight Cost Debt = 100% - 0.9992 = 0.00080000000000002
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 = 8.96
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 8.96 * 5.94 + 0 = 0.558
WACC = (0.0047 / 0.000426) * (100% - 0.9992) * (1 - 0.21) + 0.558 + 0.9992 = 863.45
Terminal Value = Discount (-0.2176 * (1 + 0.1012) / (863.45 - 0.1012)) = 0
Company Value = ∑ (-0.2176 / (1 + 863.45) ^ 5) = -0.0173
Price = (Terminal Value + Company Value) / Count shares = (0 + -0.0173) / 69810000 = -0.2485

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) = -0.0674
FCF Yield = -0.0327
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 = 0.0047
Debt = 0.000426
Market Cap = 0.5062
Weight Debt = Market Cap / (Market Cap + Debt) = 0.5062 / (0.5062 + 0.000426) = 0.9992
Weight Cost Debt = 100% - 0.9992 = 0.00080000000000002
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 = 8.96
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 8.96 * 5.94 + 0 = 0.558
WACC = (0.0047 / 0.000426) * (100% - 0.9992) * (1 - 0.21) + 0.558 + 0.9992 = 863.45
Terminal Value = Discount (-0.0674 * (1 + -0.0327) / (863.45 - -0.0327)) = 0
Company Value = ∑ (-0.0674 / (1 + 863.45) ^ 5) = -0.0089
Price = (Terminal Value + Company Value) / Count shares = (0 + -0.0089) / 69810000 = -0.1273