NASDAQ: VIR - Vir Biotechnology, 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 = -4.59
CAGR EPS = 9.16%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 8.72 + (8.72 * 9.16% / 100) = 9.51

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) = -1.96
Ebitda Yield = 0.2412
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 = 0.1831
Debt = 0.1245
Market Cap = 1.65
Weight Debt = Market Cap / (Market Cap + Debt) = 1.65 / (1.65 + 0.1245) = 0.9298
Weight Cost Debt = 100% - 0.9298 = 0.0702
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 = -0.7826
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -0.7826 * 5.94 + 0 = -0.019
WACC = (0.1831 / 0.1245) * (100% - 0.9298) * (1 - 0.21) + -0.019 + 0.9298 = 115.05
Terminal Value = Discount (-1.96 * (1 + 0.2412) / (115.05 - 0.2412)) = -0.0581
Company Value = ∑ (-1.96 / (1 + 115.05) ^ 5) = -0.8495
Price = (Terminal Value + Company Value) / Count shares = (-0.0581 + -0.8495) / 134130000 = -6.77

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) = -3.41
FCF Yield = 0.336
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 = 0.1831
Debt = 0.1245
Market Cap = 1.65
Weight Debt = Market Cap / (Market Cap + Debt) = 1.65 / (1.65 + 0.1245) = 0.9298
Weight Cost Debt = 100% - 0.9298 = 0.0702
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 = -0.7826
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -0.7826 * 5.94 + 0 = -0.019
WACC = (0.1831 / 0.1245) * (100% - 0.9298) * (1 - 0.21) + -0.019 + 0.9298 = 115.05
Terminal Value = Discount (-3.41 * (1 + 0.336) / (115.05 - 0.336)) = -0.1215
Company Value = ∑ (-3.41 / (1 + 115.05) ^ 5) = -1.19
Price = (Terminal Value + Company Value) / Count shares = (-0.1215 + -1.19) / 134130000 = -9.79