NASDAQ: AGIO - Agios Pharmaceuticals, 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 = -6.33
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 30.61 + (30.61 * 8.66% / 100) = 33.26

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) = -0.3602
Ebitda Yield = -0.0132
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 = 0.0128
Debt = 0.072
Market Cap = 1.46
Weight Debt = Market Cap / (Market Cap + Debt) = 1.46 / (1.46 + 0.072) = 0.953
Weight Cost Debt = 100% - 0.953 = 0.047
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) = 3
β = -2.76
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -2.76 * 5.94 + 0 = -0.1337
WACC = (0.0128 / 0.072) * (100% - 0.953) * (1 - 0.21) + -0.1337 + 0.953 = 13.78
Terminal Value = Discount (-0.3602 * (1 + -0.0132) / (13.78 - -0.0132)) = -1.23
Company Value = ∑ (-0.3602 / (1 + 13.78) ^ 5) = -1.28
Price = (Terminal Value + Company Value) / Count shares = (-1.23 + -1.28) / 55650000 = -45.19

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) = -0.2428
FCF Yield = -0.0396
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 = 0.0128
Debt = 0.072
Market Cap = 1.46
Weight Debt = Market Cap / (Market Cap + Debt) = 1.46 / (1.46 + 0.072) = 0.953
Weight Cost Debt = 100% - 0.953 = 0.047
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) = 3
β = -2.76
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -2.76 * 5.94 + 0 = -0.1337
WACC = (0.0128 / 0.072) * (100% - 0.953) * (1 - 0.21) + -0.1337 + 0.953 = 13.78
Terminal Value = Discount (-0.2428 * (1 + -0.0396) / (13.78 - -0.0396)) = -0.6891
Company Value = ∑ (-0.2428 / (1 + 13.78) ^ 5) = -0.9191
Price = (Terminal Value + Company Value) / Count shares = (-0.6891 + -0.9191) / 55650000 = -28.9