NASDAQ: AXSM - Axsome Therapeutics, 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 = -5.27
CAGR EPS = 21.25%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 83.43 + (83.43 * 21.25% / 100) = 101.15

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) = -0.6056
Ebitda Yield = 0.219
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 = 0.0065
Debt = 0.1793
Market Cap = 3.34
Weight Debt = Market Cap / (Market Cap + Debt) = 3.34 / (3.34 + 0.1793) = 0.949
Weight Cost Debt = 100% - 0.949 = 0.051
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) = 2.75
β = 0.0913
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 0.0913 * 5.94 + 0 = 0.0329
WACC = (0.0065 / 0.1793) * (100% - 0.949) * (1 - 0.21) + 0.0329 + 0.949 = 2.85
Terminal Value = Discount (-0.6056 * (1 + 0.219) / (2.85 - 0.219)) = -3.37
Company Value = ∑ (-0.6056 / (1 + 2.85) ^ 5) = -1.93
Price = (Terminal Value + Company Value) / Count shares = (-3.37 + -1.93) / 45430000 = -116.55

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) = -0.3711
FCF Yield = 0.2057
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 = 0.0065
Debt = 0.1793
Market Cap = 3.34
Weight Debt = Market Cap / (Market Cap + Debt) = 3.34 / (3.34 + 0.1793) = 0.949
Weight Cost Debt = 100% - 0.949 = 0.051
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) = 2.75
β = 0.0913
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 0.0913 * 5.94 + 0 = 0.0329
WACC = (0.0065 / 0.1793) * (100% - 0.949) * (1 - 0.21) + 0.0329 + 0.949 = 2.85
Terminal Value = Discount (-0.3711 * (1 + 0.2057) / (2.85 - 0.2057)) = -2.19
Company Value = ∑ (-0.3711 / (1 + 2.85) ^ 5) = -1.2
Price = (Terminal Value + Company Value) / Count shares = (-2.19 + -1.2) / 45430000 = -74.79