BSE: DISHTV - Dish TV India 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 = -10.68
CAGR EPS = 3.71%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 12.11 + (12.11 * 3.71% / 100) = 12.56

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) = 2.23
Ebitda Yield = -1.75
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 = 2.64
Debt = 0.746
Market Cap = 27.51
Weight Debt = Market Cap / (Market Cap + Debt) = 27.51 / (27.51 + 0.746) = 0.9736
Weight Cost Debt = 100% - 0.9736 = 0.0264
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 = 6.46
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 6.46 * 5.94 + 0 = 0.4118
WACC = (2.64 / 0.746) * (100% - 0.9736) * (1 - 0.21) + 0.4118 + 0.9736 = 277.47
Terminal Value = Discount (2.23 * (1 + -1.75) / (277.47 - -1.75)) = -0.00048
Company Value = ∑ (2.23 / (1 + 277.47) ^ 5) = 1.59
Price = (Terminal Value + Company Value) / Count shares = (-0.00048 + 1.59) / 1841260000 = 0.8617

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) = 0.1153
FCF Yield = -0.3291
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 = 2.64
Debt = 0.746
Market Cap = 27.51
Weight Debt = Market Cap / (Market Cap + Debt) = 27.51 / (27.51 + 0.746) = 0.9736
Weight Cost Debt = 100% - 0.9736 = 0.0264
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 = 6.46
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 6.46 * 5.94 + 0 = 0.4118
WACC = (2.64 / 0.746) * (100% - 0.9736) * (1 - 0.21) + 0.4118 + 0.9736 = 277.47
Terminal Value = Discount (0.1153 * (1 + -0.3291) / (277.47 - -0.3291)) = 3.3E-5
Company Value = ∑ (0.1153 / (1 + 277.47) ^ 5) = 0.1833
Price = (Terminal Value + Company Value) / Count shares = (3.3E-5 + 0.1833) / 1841260000 = 0.0995