NASDAQ: NYXH - Nyxoah S.A.

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 = -1.55
CAGR EPS = 36.4%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 6.33 + (6.33 * 36.4% / 100) = 8.63

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) = -0.1936
Ebitda Yield = 0.357
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 = 0.0012
Debt = 0.0096
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.0096) = 0
Weight Cost Debt = 100% - 0 = 1
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 = -0.483
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -0.483 * 5.94 + 0 = 0.000213
WACC = (0.0012 / 0.0096) * (100% - 0) * (1 - 0.21) + 0.000213 + 0 = 9.95
Terminal Value = Discount (-0.1936 * (1 + 0.357) / (9.95 - 0.357)) = -0.6351
Company Value = ∑ (-0.1936 / (1 + 9.95) ^ 5) = -0.4134
Price = (Terminal Value + Company Value) / Count shares = (-0.6351 + -0.4134) / 27970000 = -37.48

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) = -0.2009
FCF Yield = 0.2922
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 = 0.0012
Debt = 0.0096
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.0096) = 0
Weight Cost Debt = 100% - 0 = 1
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 = -0.483
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -0.483 * 5.94 + 0 = 0.000213
WACC = (0.0012 / 0.0096) * (100% - 0) * (1 - 0.21) + 0.000213 + 0 = 9.95
Terminal Value = Discount (-0.2009 * (1 + 0.2922) / (9.95 - 0.2922)) = -0.838
Company Value = ∑ (-0.2009 / (1 + 9.95) ^ 5) = -0.4644
Price = (Terminal Value + Company Value) / Count shares = (-0.838 + -0.4644) / 27970000 = -46.57