OTC: AAVXF - ABIVAX Société Anonyme

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 = -2.43
CAGR EPS = 0.9308%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 8.93 + (8.93 * 0.9308% / 100) = 9.01

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) = -0.3897
Ebitda Yield = 0.2482
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 = 0.0109
Debt = 0.088
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.088) = 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) = 2.39
β = 3.69
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + 3.69 * 5.94 + 0 = 0.2431
WACC = (0.0109 / 0.088) * (100% - 0) * (1 - 0.21) + 0.2431 + 0 = 9.79
Terminal Value = Discount (-0.3897 * (1 + 0.2482) / (9.79 - 0.2482)) = -2.03
Company Value = ∑ (-0.3897 / (1 + 9.79) ^ 5) = -0.9607
Price = (Terminal Value + Company Value) / Count shares = (-2.03 + -0.9607) / 63350000 = -47.18

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) = -0.4864
FCF Yield = 0.2832
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 = 0.0109
Debt = 0.088
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.088) = 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) = 2.39
β = 3.69
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + 3.69 * 5.94 + 0 = 0.2431
WACC = (0.0109 / 0.088) * (100% - 0) * (1 - 0.21) + 0.2431 + 0 = 9.79
Terminal Value = Discount (-0.4864 * (1 + 0.2832) / (9.79 - 0.2832)) = -2.11
Company Value = ∑ (-0.4864 / (1 + 9.79) ^ 5) = -1.14
Price = (Terminal Value + Company Value) / Count shares = (-2.11 + -1.14) / 63350000 = -51.38