SSE: 688177 - Bio-Thera Solutions, Ltd.

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 = -0.9528
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 29.99 + (29.99 * 8.66% / 100) = 32.59

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) = -0.3101
Ebitda Yield = -0.0954
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 = 0.0104
Debt = 0.2691
Market Cap = 10.7
Weight Debt = Market Cap / (Market Cap + Debt) = 10.7 / (10.7 + 0.2691) = 0.9755
Weight Cost Debt = 100% - 0.9755 = 0.0245
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 = -0.8076
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -0.8076 * 5.94 + 0 = -0.0191
WACC = (0.0104 / 0.2691) * (100% - 0.9755) * (1 - 0.21) + -0.0191 + 0.9755 = 3
Terminal Value = Discount (-0.3101 * (1 + -0.0954) / (3 - -0.0954)) = -1.93
Company Value = ∑ (-0.3101 / (1 + 3) ^ 5) = -1.76
Price = (Terminal Value + Company Value) / Count shares = (-1.93 + -1.76) / 414080000 = -8.92

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) = -0.8788
FCF Yield = 0.0241
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 = 0.0104
Debt = 0.2691
Market Cap = 10.7
Weight Debt = Market Cap / (Market Cap + Debt) = 10.7 / (10.7 + 0.2691) = 0.9755
Weight Cost Debt = 100% - 0.9755 = 0.0245
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 = -0.8076
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -0.8076 * 5.94 + 0 = -0.0191
WACC = (0.0104 / 0.2691) * (100% - 0.9755) * (1 - 0.21) + -0.0191 + 0.9755 = 3
Terminal Value = Discount (-0.8788 * (1 + 0.0241) / (3 - 0.0241)) = -131.27
Company Value = ∑ (-0.8788 / (1 + 3) ^ 5) = -3.83
Price = (Terminal Value + Company Value) / Count shares = (-131.27 + -3.83) / 414080000 = -326.28