SSE: 688235 - BeiGene, 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 = -0.0918
CAGR EPS = 9.16%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 160.87 + (160.87 * 9.16% / 100) = 175.61

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) = -19.03
Ebitda Yield = 0.095
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
Debt = 0.5452
Market Cap = 151.42
Weight Debt = Market Cap / (Market Cap + Debt) = 151.42 / (151.42 + 0.5452) = 0.9964
Weight Cost Debt = 100% - 0.9964 = 0.0036
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) = 2.6
β = 1.93
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 1.93 * 5.94 + 0 = 0.1407
WACC = (0 / 0.5452) * (100% - 0.9964) * (1 - 0.21) + 0.1407 + 0.9964 = 0.1402
Terminal Value = Discount (-19.03 * (1 + 0.095) / (0.1402 - 0.095)) = -221.15
Company Value = ∑ (-19.03 / (1 + 0.1402) ^ 5) = -79.66
Price = (Terminal Value + Company Value) / Count shares = (-221.15 + -79.66) / 1359510000 = -221.26

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) = -0.6089
FCF Yield = -0.1875
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
Debt = 0.5452
Market Cap = 151.42
Weight Debt = Market Cap / (Market Cap + Debt) = 151.42 / (151.42 + 0.5452) = 0.9964
Weight Cost Debt = 100% - 0.9964 = 0.0036
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) = 2.6
β = 1.93
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 1.93 * 5.94 + 0 = 0.1407
WACC = (0 / 0.5452) * (100% - 0.9964) * (1 - 0.21) + 0.1407 + 0.9964 = 0.1402
Terminal Value = Discount (-0.6089 * (1 + -0.1875) / (0.1402 - -0.1875)) = -2.6
Company Value = ∑ (-0.6089 / (1 + 0.1402) ^ 5) = -4.8
Price = (Terminal Value + Company Value) / Count shares = (-2.6 + -4.8) / 1359510000 = -5.44