NASDAQ: QDEL - Quidel

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 = -30.16
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 41.52 + (41.52 * 8.66% / 100) = 45.12

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) = 0.3409
Ebitda Yield = -1.7
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 = 0.1883
Debt = 0.509
Market Cap = 4.96
Weight Debt = Market Cap / (Market Cap + Debt) = 4.96 / (4.96 + 0.509) = 0.9069
Weight Cost Debt = 100% - 0.9069 = 0.0931
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 = 0.9394
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0.9394 * 5.94 + 0 = 0.084
WACC = (0.1883 / 0.509) * (100% - 0.9069) * (1 - 0.21) + 0.084 + 0.9069 = 29.04
Terminal Value = Discount (0.3409 * (1 + -1.7) / (29.04 - -1.7)) = -0.0337
Company Value = ∑ (0.3409 / (1 + 29.04) ^ 5) = 0.7263
Price = (Terminal Value + Company Value) / Count shares = (-0.0337 + 0.7263) / 67200000 = 10.31

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) = 0.0191
FCF Yield = -0.2548
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 = 0.1883
Debt = 0.509
Market Cap = 4.96
Weight Debt = Market Cap / (Market Cap + Debt) = 4.96 / (4.96 + 0.509) = 0.9069
Weight Cost Debt = 100% - 0.9069 = 0.0931
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 = 0.9394
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0.9394 * 5.94 + 0 = 0.084
WACC = (0.1883 / 0.509) * (100% - 0.9069) * (1 - 0.21) + 0.084 + 0.9069 = 29.04
Terminal Value = Discount (0.0191 * (1 + -0.2548) / (29.04 - -0.2548)) = 0.0073
Company Value = ∑ (0.0191 / (1 + 29.04) ^ 5) = 0.1062
Price = (Terminal Value + Company Value) / Count shares = (0.0073 + 0.1062) / 67200000 = 1.69