NASDAQ: IGMS - IGM Biosciences, 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 = -4.71
CAGR EPS = 0.5635%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 7.61 + (7.61 * 0.5635% / 100) = 7.65

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) = -1.07
Ebitda Yield = 0.3328
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 = 0.0069
Debt = 0.0405
Market Cap = 0.4518
Weight Debt = Market Cap / (Market Cap + Debt) = 0.4518 / (0.4518 + 0.0405) = 0.9177
Weight Cost Debt = 100% - 0.9177 = 0.0823
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 = -15.28
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -15.28 * 5.94 + 0 = -0.8777
WACC = (0.0069 / 0.0405) * (100% - 0.9177) * (1 - 0.21) + -0.8777 + 0.9177 = 12.53
Terminal Value = Discount (-1.07 * (1 + 0.3328) / (12.53 - 0.3328)) = -3.79
Company Value = ∑ (-1.07 / (1 + 12.53) ^ 5) = -2.17
Price = (Terminal Value + Company Value) / Count shares = (-3.79 + -2.17) / 52310000 = -113.91

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) = -0.6796
FCF Yield = 0.2714
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 = 0.0069
Debt = 0.0405
Market Cap = 0.4518
Weight Debt = Market Cap / (Market Cap + Debt) = 0.4518 / (0.4518 + 0.0405) = 0.9177
Weight Cost Debt = 100% - 0.9177 = 0.0823
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 = -15.28
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -15.28 * 5.94 + 0 = -0.8777
WACC = (0.0069 / 0.0405) * (100% - 0.9177) * (1 - 0.21) + -0.8777 + 0.9177 = 12.53
Terminal Value = Discount (-0.6796 * (1 + 0.2714) / (12.53 - 0.2714)) = -3.28
Company Value = ∑ (-0.6796 / (1 + 12.53) ^ 5) = -1.5
Price = (Terminal Value + Company Value) / Count shares = (-3.28 + -1.5) / 52310000 = -91.3