BSE: BENGALASM - Bengal & Assam Company Limited

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 = 3444.99
CAGR EPS = 53.6%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 7951 + (7951 * 53.6% / 100) = 12212.8

Price = (DPS * (1 + g)) / (Cost Of Equity - g)
Price - 价格公道
DPS — 当期股息
g — 预期增长率
DPS = 40
g = 0.1807
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 = 2.99
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 2.99 * 5.94 + 0 = 0.2059
Price = (40 * (1 + 0.1807)) / (0.2059 - 0.1807) = 1871.17

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) = 33.97
Ebitda Yield = 0.088
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 = 3.66
Debt = 3.02
Market Cap = 54.57
Weight Debt = Market Cap / (Market Cap + Debt) = 54.57 / (54.57 + 3.02) = 0.9476
Weight Cost Debt = 100% - 0.9476 = 0.0524
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 = 2.99
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 2.99 * 5.94 + 0 = 0.2059
WACC = (3.66 / 3.02) * (100% - 0.9476) * (1 - 0.21) + 0.2059 + 0.9476 = 95.06
Terminal Value = Discount (33.97 * (1 + 0.088) / (95.06 - 0.088)) = 1.52
Company Value = ∑ (33.97 / (1 + 95.06) ^ 5) = 26.59
Price = (Terminal Value + Company Value) / Count shares = (1.52 + 26.59) / 11300000 = 2487.31

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) = 12.94
FCF Yield = 0.0108
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 = 3.66
Debt = 3.02
Market Cap = 54.57
Weight Debt = Market Cap / (Market Cap + Debt) = 54.57 / (54.57 + 3.02) = 0.9476
Weight Cost Debt = 100% - 0.9476 = 0.0524
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 = 2.99
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 2.99 * 5.94 + 0 = 0.2059
WACC = (3.66 / 3.02) * (100% - 0.9476) * (1 - 0.21) + 0.2059 + 0.9476 = 95.06
Terminal Value = Discount (12.94 * (1 + 0.0108) / (95.06 - 0.0108)) = 0.4927
Company Value = ∑ (12.94 / (1 + 95.06) ^ 5) = 12.7
Price = (Terminal Value + Company Value) / Count shares = (0.4927 + 12.7) / 11300000 = 1167.1