NASDAQ: YMAB - Y-mAbs 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 = -0.4909
CAGR EPS = 9.16%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 8.33 + (8.33 * 9.16% / 100) = 9.09

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) = -0.0069
Ebitda Yield = -0.1954
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 = 0.000757
Debt = 0.0014
Market Cap = 0.2456
Weight Debt = Market Cap / (Market Cap + Debt) = 0.2456 / (0.2456 + 0.0014) = 0.9943
Weight Cost Debt = 100% - 0.9943 = 0.0057
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 = -1.88
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + -1.88 * 5.94 + 0 = -0.0858
WACC = (0.000757 / 0.0014) * (100% - 0.9943) * (1 - 0.21) + -0.0858 + 0.9943 = 41.64
Terminal Value = Discount (-0.0069 * (1 + -0.1954) / (41.64 - -0.1954)) = -0.0016
Company Value = ∑ (-0.0069 / (1 + 41.64) ^ 5) = -0.0253
Price = (Terminal Value + Company Value) / Count shares = (-0.0016 + -0.0253) / 43650000 = -0.6162

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) = -0.0123
FCF Yield = -0.1476
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 = 0.000757
Debt = 0.0014
Market Cap = 0.2456
Weight Debt = Market Cap / (Market Cap + Debt) = 0.2456 / (0.2456 + 0.0014) = 0.9943
Weight Cost Debt = 100% - 0.9943 = 0.0057
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 = -1.88
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + -1.88 * 5.94 + 0 = -0.0858
WACC = (0.000757 / 0.0014) * (100% - 0.9943) * (1 - 0.21) + -0.0858 + 0.9943 = 41.64
Terminal Value = Discount (-0.0123 * (1 + -0.1476) / (41.64 - -0.1476)) = -0.0032
Company Value = ∑ (-0.0123 / (1 + 41.64) ^ 5) = -0.0379
Price = (Terminal Value + Company Value) / Count shares = (-0.0032 + -0.0379) / 43650000 = -0.9429