NASDAQ: PCRX - Pacira BioSciences, Inc.

Price = EPS * (1 + CAGR EPS) / (Key Rate * Excess Key Rate)
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 = 0.8072
CAGR EPS = 38.2%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.8072 * (1 + 38.2%) / (0.0433 * 2) = 12.88

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) = 0.4499
Ebitda Yield = 0.2335
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 = 0.0238
Debt = 0.5312
Market Cap = 1.75
Weight Debt = Market Cap / (Market Cap + Debt) = 1.75 / (1.75 + 0.5312) = 0.7671
Weight Cost Debt = 100% - 0.7671 = 0.2329
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) = 3
β = 2.24
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 2.24 * 5.94 + 0 = 0.1631
WACC = (0.0238 / 0.5312) * (100% - 0.7671) * (1 - 0.21) + 0.1631 + 0.7671 = 3.64
Terminal Value = Discount (0.4499 * (1 + 0.2335) / (3.64 - 0.2335)) = 2.36
Company Value = ∑ (0.4499 / (1 + 3.64) ^ 5) = 1.37
Price = (Terminal Value + Company Value) / Count shares = (2.36 + 1.37) / 51980000 = 71.64

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) = 0.2754
FCF Yield = 0.1458
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 = 0.0238
Debt = 0.5312
Market Cap = 1.75
Weight Debt = Market Cap / (Market Cap + Debt) = 1.75 / (1.75 + 0.5312) = 0.7671
Weight Cost Debt = 100% - 0.7671 = 0.2329
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) = 3
β = 2.24
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 2.24 * 5.94 + 0 = 0.1631
WACC = (0.0238 / 0.5312) * (100% - 0.7671) * (1 - 0.21) + 0.1631 + 0.7671 = 3.64
Terminal Value = Discount (0.2754 * (1 + 0.1458) / (3.64 - 0.1458)) = 2.41
Company Value = ∑ (0.2754 / (1 + 3.64) ^ 5) = 0.952
Price = (Terminal Value + Company Value) / Count shares = (2.41 + 0.952) / 51980000 = 64.73