NASDAQ: ADPT - Adaptive Biotechnologies Corporation

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 = -1.56
CAGR EPS = 12.9%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 5.23 + (5.23 * 12.9% / 100) = 5.9

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) = -0.3948
Ebitda Yield = 0.1584
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 = 0.0138
Debt = 0.2294
Market Cap = 0.8997
Weight Debt = Market Cap / (Market Cap + Debt) = 0.8997 / (0.8997 + 0.2294) = 0.7968
Weight Cost Debt = 100% - 0.7968 = 0.2032
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 = -10.89
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + -10.89 * 5.94 + 0 = -0.6186
WACC = (0.0138 / 0.2294) * (100% - 0.7968) * (1 - 0.21) + -0.6186 + 0.7968 = 4.22
Terminal Value = Discount (-0.3948 * (1 + 0.1584) / (4.22 - 0.1584)) = -3.2
Company Value = ∑ (-0.3948 / (1 + 4.22) ^ 5) = -1.31
Price = (Terminal Value + Company Value) / Count shares = (-3.2 + -1.31) / 144380000 = -31.27

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) = 0.0106
FCF Yield = -1.58
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 = 0.0138
Debt = 0.2294
Market Cap = 0.8997
Weight Debt = Market Cap / (Market Cap + Debt) = 0.8997 / (0.8997 + 0.2294) = 0.7968
Weight Cost Debt = 100% - 0.7968 = 0.2032
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 = -10.89
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + -10.89 * 5.94 + 0 = -0.6186
WACC = (0.0138 / 0.2294) * (100% - 0.7968) * (1 - 0.21) + -0.6186 + 0.7968 = 4.22
Terminal Value = Discount (0.0106 * (1 + -1.58) / (4.22 - -1.58)) = -0.0031
Company Value = ∑ (0.0106 / (1 + 4.22) ^ 5) = 0.0625
Price = (Terminal Value + Company Value) / Count shares = (-0.0031 + 0.0625) / 144380000 = 0.4119