NASDAQ: XENE - Xenon Pharmaceuticals 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 = -2.73
CAGR EPS = 11.2%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 42.51 + (42.51 * 11.2% / 100) = 47.27

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) = -0.8079
Ebitda Yield = 0.3086
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 = 0.0055
Debt = 0.0109
Market Cap = 2.34
Weight Debt = Market Cap / (Market Cap + Debt) = 2.34 / (2.34 + 0.0109) = 0.9954
Weight Cost Debt = 100% - 0.9954 = 0.0046
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) = 3
β = 0.4728
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0.4728 * 5.94 + 0 = 0.0581
WACC = (0.0055 / 0.0109) * (100% - 0.9954) * (1 - 0.21) + 0.0581 + 0.9954 = 39.51
Terminal Value = Discount (-0.8079 * (1 + 0.3086) / (39.51 - 0.3086)) = -2.31
Company Value = ∑ (-0.8079 / (1 + 39.51) ^ 5) = -0.8723
Price = (Terminal Value + Company Value) / Count shares = (-2.31 + -0.8723) / 66890000 = -47.62

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) = -2.35
FCF Yield = 0.7314
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 = 0.0055
Debt = 0.0109
Market Cap = 2.34
Weight Debt = Market Cap / (Market Cap + Debt) = 2.34 / (2.34 + 0.0109) = 0.9954
Weight Cost Debt = 100% - 0.9954 = 0.0046
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) = 3
β = 0.4728
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0.4728 * 5.94 + 0 = 0.0581
WACC = (0.0055 / 0.0109) * (100% - 0.9954) * (1 - 0.21) + 0.0581 + 0.9954 = 39.51
Terminal Value = Discount (-2.35 * (1 + 0.7314) / (39.51 - 0.7314)) = -2.29
Company Value = ∑ (-2.35 / (1 + 39.51) ^ 5) = -1.51
Price = (Terminal Value + Company Value) / Count shares = (-2.29 + -1.51) / 66890000 = -56.79