NASDAQ: KDNY - Chinook Therapeutics, 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 = -2.87
CAGR EPS = 22.46%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 40.39 + (40.39 * 22.46% / 100) = 49.46

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) = -1.28
Ebitda Yield = 0.4636
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 = 0.0072
Debt = 0.0394
Market Cap = 2.9
Weight Debt = Market Cap / (Market Cap + Debt) = 2.9 / (2.9 + 0.0394) = 0.9866
Weight Cost Debt = 100% - 0.9866 = 0.0134
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
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 0 * 5.94 + 0 = 0.0289
WACC = (0.0072 / 0.0394) * (100% - 0.9866) * (1 - 0.21) + 0.0289 + 0.9866 = 14.32
Terminal Value = Discount (-1.28 * (1 + 0.4636) / (14.32 - 0.4636)) = -3
Company Value = ∑ (-1.28 / (1 + 14.32) ^ 5) = -2.12
Price = (Terminal Value + Company Value) / Count shares = (-3 + -2.12) / 64370000 = -79.55

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) = -1.03
FCF Yield = 0.4779
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 = 0.0072
Debt = 0.0394
Market Cap = 2.9
Weight Debt = Market Cap / (Market Cap + Debt) = 2.9 / (2.9 + 0.0394) = 0.9866
Weight Cost Debt = 100% - 0.9866 = 0.0134
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
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 0 * 5.94 + 0 = 0.0289
WACC = (0.0072 / 0.0394) * (100% - 0.9866) * (1 - 0.21) + 0.0289 + 0.9866 = 14.32
Terminal Value = Discount (-1.03 * (1 + 0.4779) / (14.32 - 0.4779)) = -2.32
Company Value = ∑ (-1.03 / (1 + 14.32) ^ 5) = -1.68
Price = (Terminal Value + Company Value) / Count shares = (-2.32 + -1.68) / 64370000 = -62.14