NASDAQ: FUSN - Fusion 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 = -1.45
CAGR EPS = 13.73%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 21.43 + (21.43 * 13.73% / 100) = 24.37

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) = -0.4006
Ebitda Yield = 0.3256
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 = 0.0052
Debt = 0.0389
Market Cap = 0.1897
Weight Debt = Market Cap / (Market Cap + Debt) = 0.1897 / (0.1897 + 0.0389) = 0.8297
Weight Cost Debt = 100% - 0.8297 = 0.1703
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 = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0 * 5.94 + 0 = 0.0282
WACC = (0.0052 / 0.0389) * (100% - 0.8297) * (1 - 0.21) + 0.0282 + 0.8297 = 10.42
Terminal Value = Discount (-0.4006 * (1 + 0.3256) / (10.42 - 0.3256)) = -1.46
Company Value = ∑ (-0.4006 / (1 + 10.42) ^ 5) = -0.8754
Price = (Terminal Value + Company Value) / Count shares = (-1.46 + -0.8754) / 65610000 = -35.62

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) = -0.3833
FCF Yield = 0.3494
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 = 0.0052
Debt = 0.0389
Market Cap = 0.1897
Weight Debt = Market Cap / (Market Cap + Debt) = 0.1897 / (0.1897 + 0.0389) = 0.8297
Weight Cost Debt = 100% - 0.8297 = 0.1703
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 = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0 * 5.94 + 0 = 0.0282
WACC = (0.0052 / 0.0389) * (100% - 0.8297) * (1 - 0.21) + 0.0282 + 0.8297 = 10.42
Terminal Value = Discount (-0.3833 * (1 + 0.3494) / (10.42 - 0.3494)) = -1.29
Company Value = ∑ (-0.3833 / (1 + 10.42) ^ 5) = -0.8137
Price = (Terminal Value + Company Value) / Count shares = (-1.29 + -0.8137) / 65610000 = -31.99