BSE: FLUOROCHEM - Gujarat Fluorochemicals Limited

Price = EPS * (1 + CAGR EPS) / (Key Rate * Excess Key Rate)
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 = 39.6
CAGR EPS = 38.96%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 39.6 * (1 + 38.96%) / (0.0433 * 2) = 635.36

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 = 3
g = 0.5259
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 = 1.5
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.5 * 5.94 + 0 = 0.1174
Price = (3 * (1 + 0.5259)) / (0.1174 - 0.5259) = 11.21

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) = 77.2
Ebitda Yield = 0.2928
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 = 1.24
Debt = 19.96
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 19.96) = 0
Weight Cost Debt = 100% - 0 = 1
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 = 1.5
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.5 * 5.94 + 0 = 0.1174
WACC = (1.24 / 19.96) * (100% - 0) * (1 - 0.21) + 0.1174 + 0 = 4.89
Terminal Value = Discount (77.2 * (1 + 0.2928) / (4.89 - 0.2928)) = 322.28
Company Value = ∑ (77.2 / (1 + 4.89) ^ 5) = 208.98
Price = (Terminal Value + Company Value) / Count shares = (322.28 + 208.98) / 109850000 = 4836.23

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) = -2.08
FCF Yield = -0.0955
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 = 1.24
Debt = 19.96
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 19.96) = 0
Weight Cost Debt = 100% - 0 = 1
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 = 1.5
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.5 * 5.94 + 0 = 0.1174
WACC = (1.24 / 19.96) * (100% - 0) * (1 - 0.21) + 0.1174 + 0 = 4.89
Terminal Value = Discount (-2.08 * (1 + -0.0955) / (4.89 - -0.0955)) = -10.29
Company Value = ∑ (-2.08 / (1 + 4.89) ^ 5) = -11.28
Price = (Terminal Value + Company Value) / Count shares = (-10.29 + -11.28) / 109850000 = -196.34