BSE: CUB - City Union Bank Ltd.

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 = 13.71
CAGR EPS = 6.43%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 142.65 + (142.65 * 6.43% / 100) = 151.83

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) = 775.24
Ebitda Yield = 0.934
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 = 31.47
Debt = 46.88
Market Cap = 95.99
Weight Debt = Market Cap / (Market Cap + Debt) = 95.99 / (95.99 + 46.88) = 0.6719
Weight Cost Debt = 100% - 0.6719 = 0.3281
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 = 2.76
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 2.76 * 5.94 + 0 = 0.1924
WACC = (31.47 / 46.88) * (100% - 0.6719) * (1 - 0.21) + 0.1924 + 0.6719 = 52.81
Terminal Value = Discount (775.24 * (1 + 0.934) / (52.81 - 0.934)) = 443.32
Company Value = ∑ (775.24 / (1 + 52.81) ^ 5) = 306.82
Price = (Terminal Value + Company Value) / Count shares = (443.32 + 306.82) / 740670000 = 1012.79

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) = 0.6313
FCF Yield = -0.2511
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 = 31.47
Debt = 46.88
Market Cap = 95.99
Weight Debt = Market Cap / (Market Cap + Debt) = 95.99 / (95.99 + 46.88) = 0.6719
Weight Cost Debt = 100% - 0.6719 = 0.3281
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 = 2.76
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 2.76 * 5.94 + 0 = 0.1924
WACC = (31.47 / 46.88) * (100% - 0.6719) * (1 - 0.21) + 0.1924 + 0.6719 = 52.81
Terminal Value = Discount (0.6313 * (1 + -0.2511) / (52.81 - -0.2511)) = 0.0728
Company Value = ∑ (0.6313 / (1 + 52.81) ^ 5) = 2.5
Price = (Terminal Value + Company Value) / Count shares = (0.0728 + 2.5) / 740670000 = 3.48