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 = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 11.38 + (11.38 * 8.66% / 100) = 12.36

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) = -0.0098
Ebitda Yield = -0.171
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) = 2.82
β = 4.34
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 4.34 * 5.94 + 0 = 0.2857
WACC = (0.000757 / 0.0014) * (100% - 0.9943) * (1 - 0.21) + 0.2857 + 0.9943 = 42.01
Terminal Value = Discount (-0.0098 * (1 + -0.171) / (42.01 - -0.171)) = -0.0024
Company Value = ∑ (-0.0098 / (1 + 42.01) ^ 5) = -0.0326
Price = (Terminal Value + Company Value) / Count shares = (-0.0024 + -0.0326) / 43650000 = -0.8012

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) = 2.82
β = 4.34
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 4.34 * 5.94 + 0 = 0.2857
WACC = (0.000757 / 0.0014) * (100% - 0.9943) * (1 - 0.21) + 0.2857 + 0.9943 = 42.01
Terminal Value = Discount (-0.0123 * (1 + -0.1476) / (42.01 - -0.1476)) = -0.0032
Company Value = ∑ (-0.0123 / (1 + 42.01) ^ 5) = -0.0377
Price = (Terminal Value + Company Value) / Count shares = (-0.0032 + -0.0377) / 43650000 = -0.9368