NASDAQ: IMMP - Immutep Limited

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 = -0.0356
CAGR EPS = 3.12%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 2.14 + (2.14 * 3.12% / 100) = 2.2

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) = -0.1152
Ebitda Yield = 0.2093
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 = 3.1E-5
Debt = 0.0016
Market Cap = 0.2042
Weight Debt = Market Cap / (Market Cap + Debt) = 0.2042 / (0.2042 + 0.0016) = 0.9923
Weight Cost Debt = 100% - 0.9923 = 0.0077
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 = 1.03
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 1.03 * 5.94 + 0 = 0.091
WACC = (3.1E-5 / 0.0016) * (100% - 0.9923) * (1 - 0.21) + 0.091 + 0.9923 = 1.59
Terminal Value = Discount (-0.1152 * (1 + 0.2093) / (1.59 - 0.2093)) = -0.6657
Company Value = ∑ (-0.1152 / (1 + 1.59) ^ 5) = -0.3871
Price = (Terminal Value + Company Value) / Count shares = (-0.6657 + -0.3871) / 1201060000 = -0.8766

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) = -0.0948
FCF Yield = 0.2153
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 = 3.1E-5
Debt = 0.0016
Market Cap = 0.2042
Weight Debt = Market Cap / (Market Cap + Debt) = 0.2042 / (0.2042 + 0.0016) = 0.9923
Weight Cost Debt = 100% - 0.9923 = 0.0077
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 = 1.03
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 1.03 * 5.94 + 0 = 0.091
WACC = (3.1E-5 / 0.0016) * (100% - 0.9923) * (1 - 0.21) + 0.091 + 0.9923 = 1.59
Terminal Value = Discount (-0.0948 * (1 + 0.2153) / (1.59 - 0.2153)) = -0.5339
Company Value = ∑ (-0.0948 / (1 + 1.59) ^ 5) = -0.316
Price = (Terminal Value + Company Value) / Count shares = (-0.5339 + -0.316) / 1201060000 = -0.7076