NASDAQ: ADMA - ADMA Biologics, Inc.

Price = Avg Price + (Avg Price * CAGR EPS% / 100)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — 关键利率
Excess Key Rate — 期望超出关键利率
EPS = -0.1261
CAGR EPS = 9.16%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 11.82 + (11.82 * 9.16% / 100) = 12.91

Price = (Terminal Value + Company Value) / Count shares
Price - 价格公道
Terminal Value — 预测后期间的成本
Company Value — 预测期内的成本
Count shares - 股份数量
Terminal Value = Discount Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = 0.0684
Ebitda Yield = 0.1793
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - 偿债成本
Debt - 责任
Weight Debt - 相对于债务的资本权重
Weight Cost Debt - 债务权重相对于资本总额
Tax - 税
Interest Expense = 0.025
Debt = 0.1316
Market Cap = 0.8291
Weight Debt = Market Cap / (Market Cap + Debt) = 0.8291 / (0.8291 + 0.1316) = 0.863
Weight Cost Debt = 100% - 0.863 = 0.137
Tax = 0.21
Cost Of Equity — 贴现率
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — 无风险回报率
β (beta) — 确定股票（资产）相对于市场的风险度量，并显示股票盈利能力变化相对于市场盈利能力变化的敏感性。
Risk Premium — 风险溢价——投资股票的风险溢价
Country Premium - 国家风险
k(f) = 2.6
β = 7.93
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 7.93 * 5.94 + 0 = 0.4971
WACC = (0.025 / 0.1316) * (100% - 0.863) * (1 - 0.21) + 0.4971 + 0.863 = 15.32
Terminal Value = Discount (0.0684 * (1 + 0.1793) / (15.32 - 0.1793)) = 1.51
Company Value = ∑ (0.0684 / (1 + 15.32) ^ 5) = 0.1603
Price = (Terminal Value + Company Value) / Count shares = (1.51 + 0.1603) / 223980000 = 7.47

Price = (Terminal Value + Company Value) / Count shares
Price - 价格公道
Terminal Value — 预测后期间的成本
Company Value — 预测期内的成本
Count shares - 股份数量
Terminal Value = Discount FCF(5) * (1 + FCF Yield) / (WACC - FCF Yield)
Company Value = ∑ (Discount FCF / (1 + WACC) ^ 5)
Discount FCF(5) = 0.0068
FCF Yield = 0.1233
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - 偿债成本
Debt - 责任
Weight Debt - 相对于债务的资本权重
Weight Cost Debt - 债务权重相对于资本总额
Tax - 税
Interest Expense = 0.025
Debt = 0.1316
Market Cap = 0.8291
Weight Debt = Market Cap / (Market Cap + Debt) = 0.8291 / (0.8291 + 0.1316) = 0.863
Weight Cost Debt = 100% - 0.863 = 0.137
Tax = 0.21
Cost Of Equity — 贴现率
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — 无风险回报率
β (beta) — 确定股票（资产）相对于市场的风险度量，并显示股票盈利能力变化相对于市场盈利能力变化的敏感性。
Risk Premium — 风险溢价——投资股票的风险溢价
Country Premium - 国家风险
k(f) = 2.6
β = 7.93
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 7.93 * 5.94 + 0 = 0.4971
WACC = (0.025 / 0.1316) * (100% - 0.863) * (1 - 0.21) + 0.4971 + 0.863 = 15.32
Terminal Value = Discount (0.0068 * (1 + 0.1233) / (15.32 - 0.1233)) = 0.1259
Company Value = ∑ (0.0068 / (1 + 15.32) ^ 5) = 0.0177
Price = (Terminal Value + Company Value) / Count shares = (0.1259 + 0.0177) / 223980000 = 0.6409