NASDAQ: AMRN - Amarin

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 = -0.2
CAGR EPS = 33.48%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.6781 + (0.6781 * 33.48% / 100) = 0.9051

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) = -0.2816
Ebitda Yield = 0.3058
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
Debt = 0.0077
Market Cap = 0.4283
Weight Debt = Market Cap / (Market Cap + Debt) = 0.4283 / (0.4283 + 0.0077) = 0.9823
Weight Cost Debt = 100% - 0.9823 = 0.0177
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 = 4.12
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 4.12 * 5.94 + 0 = 0.2728
WACC = (0 / 0.0077) * (100% - 0.9823) * (1 - 0.21) + 0.2728 + 0.9823 = 0.3388
Terminal Value = Discount (-0.2816 * (1 + 0.3058) / (0.3388 - 0.3058)) = -1.2
Company Value = ∑ (-0.2816 / (1 + 0.3388) ^ 5) = -0.8754
Price = (Terminal Value + Company Value) / Count shares = (-1.2 + -0.8754) / 410940000 = -5.04

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) = -0.0409
FCF Yield = 0.0569
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
Debt = 0.0077
Market Cap = 0.4283
Weight Debt = Market Cap / (Market Cap + Debt) = 0.4283 / (0.4283 + 0.0077) = 0.9823
Weight Cost Debt = 100% - 0.9823 = 0.0177
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 = 4.12
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 4.12 * 5.94 + 0 = 0.2728
WACC = (0 / 0.0077) * (100% - 0.9823) * (1 - 0.21) + 0.2728 + 0.9823 = 0.3388
Terminal Value = Discount (-0.0409 * (1 + 0.0569) / (0.3388 - 0.0569)) = -0.7943
Company Value = ∑ (-0.0409 / (1 + 0.3388) ^ 5) = -0.1818
Price = (Terminal Value + Company Value) / Count shares = (-0.7943 + -0.1818) / 410940000 = -2.38