NASDAQ: AUTL - Autolus 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 = -1.2
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 2.72 + (2.72 * 8.66% / 100) = 2.95

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) = -0.1774
Ebitda Yield = 0.025
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 = 0.0451
Debt = 0.053
Market Cap = 0.5471
Weight Debt = Market Cap / (Market Cap + Debt) = 0.5471 / (0.5471 + 0.053) = 0.9117
Weight Cost Debt = 100% - 0.9117 = 0.0883
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) = 2.39
β = 2.78
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + 2.78 * 5.94 + 0 = 0.1891
WACC = (0.0451 / 0.053) * (100% - 0.9117) * (1 - 0.21) + 0.1891 + 0.9117 = 66.78
Terminal Value = Discount (-0.1774 * (1 + 0.025) / (66.78 - 0.025)) = -0.0219
Company Value = ∑ (-0.1774 / (1 + 66.78) ^ 5) = -0.2281
Price = (Terminal Value + Company Value) / Count shares = (-0.0219 + -0.2281) / 173940000 = -1.44

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) = -0.1939
FCF Yield = 0.0437
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 = 0.0451
Debt = 0.053
Market Cap = 0.5471
Weight Debt = Market Cap / (Market Cap + Debt) = 0.5471 / (0.5471 + 0.053) = 0.9117
Weight Cost Debt = 100% - 0.9117 = 0.0883
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) = 2.39
β = 2.78
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + 2.78 * 5.94 + 0 = 0.1891
WACC = (0.0451 / 0.053) * (100% - 0.9117) * (1 - 0.21) + 0.1891 + 0.9117 = 66.78
Terminal Value = Discount (-0.1939 * (1 + 0.0437) / (66.78 - 0.0437)) = -0.0251
Company Value = ∑ (-0.1939 / (1 + 66.78) ^ 5) = -0.2367
Price = (Terminal Value + Company Value) / Count shares = (-0.0251 + -0.2367) / 173940000 = -1.51