NASDAQ: KRTX - Karuna 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 = -11.73
CAGR EPS = 26.1%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 329.83 + (329.83 * 26.1% / 100) = 415.92

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) = -3.79
Ebitda Yield = 0.5037
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 = 0.0142
Debt = 0.0167
Market Cap = 6.52
Weight Debt = Market Cap / (Market Cap + Debt) = 6.52 / (6.52 + 0.0167) = 0.9974
Weight Cost Debt = 100% - 0.9974 = 0.0026
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 = (0.0142 / 0.0167) * (100% - 0.9974) * (1 - 0.21) + 0.0282 + 0.9974 = 66.58
Terminal Value = Discount (-3.79 * (1 + 0.5037) / (66.58 - 0.5037)) = -2.74
Company Value = ∑ (-3.79 / (1 + 66.58) ^ 5) = -1.83
Price = (Terminal Value + Company Value) / Count shares = (-2.74 + -1.83) / 36960000 = -123.77

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) = -3.22
FCF Yield = 0.5266
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 = 0.0142
Debt = 0.0167
Market Cap = 6.52
Weight Debt = Market Cap / (Market Cap + Debt) = 6.52 / (6.52 + 0.0167) = 0.9974
Weight Cost Debt = 100% - 0.9974 = 0.0026
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 = (0.0142 / 0.0167) * (100% - 0.9974) * (1 - 0.21) + 0.0282 + 0.9974 = 66.58
Terminal Value = Discount (-3.22 * (1 + 0.5266) / (66.58 - 0.5266)) = -2.76
Company Value = ∑ (-3.22 / (1 + 66.58) ^ 5) = -1.51
Price = (Terminal Value + Company Value) / Count shares = (-2.76 + -1.51) / 36960000 = -115.37