NASDAQ: BGNE - BeiGene, Ltd.

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 = -8.45
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 173.31 + (173.31 * 8.66% / 100) = 188.31

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) = -0.8256
Ebitda Yield = -0.0599
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 = 0.0374
Debt = 0.9302
Market Cap = 20.34
Weight Debt = Market Cap / (Market Cap + Debt) = 20.34 / (20.34 + 0.9302) = 0.9563
Weight Cost Debt = 100% - 0.9563 = 0.0437
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) = 2.89
β = -0.3214
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -0.3214 * 5.94 + 0 = 0.0098
WACC = (0.0374 / 0.9302) * (100% - 0.9563) * (1 - 0.21) + 0.0098 + 0.9563 = 3.15
Terminal Value = Discount (-0.8256 * (1 + -0.0599) / (3.15 - -0.0599)) = -7.27
Company Value = ∑ (-0.8256 / (1 + 3.15) ^ 5) = -4.29
Price = (Terminal Value + Company Value) / Count shares = (-7.27 + -4.29) / 104390000 = -110.72

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) = -1.95
FCF Yield = 0.0229
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 = 0.0374
Debt = 0.9302
Market Cap = 20.34
Weight Debt = Market Cap / (Market Cap + Debt) = 20.34 / (20.34 + 0.9302) = 0.9563
Weight Cost Debt = 100% - 0.9563 = 0.0437
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) = 2.89
β = -0.3214
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -0.3214 * 5.94 + 0 = 0.0098
WACC = (0.0374 / 0.9302) * (100% - 0.9563) * (1 - 0.21) + 0.0098 + 0.9563 = 3.15
Terminal Value = Discount (-1.95 * (1 + 0.0229) / (3.15 - 0.0229)) = -197.32
Company Value = ∑ (-1.95 / (1 + 3.15) ^ 5) = -8.48
Price = (Terminal Value + Company Value) / Count shares = (-197.32 + -8.48) / 104390000 = -1971.39