NASDAQ: REUN - Reunion Neuroscience 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 = -5.65
CAGR EPS = 132.2%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 1.12 + (1.12 * 132.2% / 100) = 2.6

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) = -0.1005
Ebitda Yield = 0.4243
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 = 0.0177
Debt = 0.0034
Market Cap = 0.013
Weight Debt = Market Cap / (Market Cap + Debt) = 0.013 / (0.013 + 0.0034) = 0.7942
Weight Cost Debt = 100% - 0.7942 = 0.2058
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 = (0.0177 / 0.0034) * (100% - 0.7942) * (1 - 0.21) + 0.0289 + 0.7942 = 412.55
Terminal Value = Discount (-0.1005 * (1 + 0.4243) / (412.55 - 0.4243)) = -1.1E-5
Company Value = ∑ (-0.1005 / (1 + 412.55) ^ 5) = -0.0066
Price = (Terminal Value + Company Value) / Count shares = (-1.1E-5 + -0.0066) / 11720000 = -0.563

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) = -0.3101
FCF Yield = 0.6158
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 = 0.0177
Debt = 0.0034
Market Cap = 0.013
Weight Debt = Market Cap / (Market Cap + Debt) = 0.013 / (0.013 + 0.0034) = 0.7942
Weight Cost Debt = 100% - 0.7942 = 0.2058
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 = (0.0177 / 0.0034) * (100% - 0.7942) * (1 - 0.21) + 0.0289 + 0.7942 = 412.55
Terminal Value = Discount (-0.3101 * (1 + 0.6158) / (412.55 - 0.6158)) = -4.0E-5
Company Value = ∑ (-0.3101 / (1 + 412.55) ^ 5) = -0.0129
Price = (Terminal Value + Company Value) / Count shares = (-4.0E-5 + -0.0129) / 11720000 = -1.11