OTC: CASBF - CanSino Biologics 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 = -6.01
CAGR EPS = 98.38%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 3.23 + (3.23 * 98.38% / 100) = 6.41

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) = -13.07
Ebitda Yield = 0.5135
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 = 0.0641
Debt = 2.53
Market Cap = 1.67
Weight Debt = Market Cap / (Market Cap + Debt) = 1.67 / (1.67 + 2.53) = 0.3975
Weight Cost Debt = 100% - 0.3975 = 0.6025
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 = -1.12
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + -1.12 * 5.94 + 0 = -0.0424
WACC = (0.0641 / 2.53) * (100% - 0.3975) * (1 - 0.21) + -0.0424 + 0.3975 = 1.98
Terminal Value = Discount (-13.07 * (1 + 0.5135) / (1.98 - 0.5135)) = -36.32
Company Value = ∑ (-13.07 / (1 + 1.98) ^ 5) = -31.28
Price = (Terminal Value + Company Value) / Count shares = (-36.32 + -31.28) / 246710000 = -274.02

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) = -237.3
FCF Yield = 0.8538
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 = 0.0641
Debt = 2.53
Market Cap = 1.67
Weight Debt = Market Cap / (Market Cap + Debt) = 1.67 / (1.67 + 2.53) = 0.3975
Weight Cost Debt = 100% - 0.3975 = 0.6025
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 = -1.12
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + -1.12 * 5.94 + 0 = -0.0424
WACC = (0.0641 / 2.53) * (100% - 0.3975) * (1 - 0.21) + -0.0424 + 0.3975 = 1.98
Terminal Value = Discount (-237.3 * (1 + 0.8538) / (1.98 - 0.8538)) = -478.26
Company Value = ∑ (-237.3 / (1 + 1.98) ^ 5) = -454.17
Price = (Terminal Value + Company Value) / Count shares = (-478.26 + -454.17) / 246710000 = -3779.46