BSE: HATHWAY - Hathway Cable and Datacom 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 = 0.561
CAGR EPS = 12.56%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.561 * (1 + 12.56%) / (0.0433 * 2) = 7.29

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) = 3.11
Ebitda Yield = -0.0703
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 = 0.0116
Debt = 0.0578
Market Cap = 27.17
Weight Debt = Market Cap / (Market Cap + Debt) = 27.17 / (27.17 + 0.0578) = 0.9979
Weight Cost Debt = 100% - 0.9979 = 0.0021
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 = 1.99
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.99 * 5.94 + 0 = 0.1466
WACC = (0.0116 / 0.0578) * (100% - 0.9979) * (1 - 0.21) + 0.1466 + 0.9979 = 15.84
Terminal Value = Discount (3.11 * (1 + -0.0703) / (15.84 - -0.0703)) = 6.07
Company Value = ∑ (3.11 / (1 + 15.84) ^ 5) = 12.15
Price = (Terminal Value + Company Value) / Count shares = (6.07 + 12.15) / 1770100000 = 10.29

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) = 8.76
FCF Yield = -2.07
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 = 0.0116
Debt = 0.0578
Market Cap = 27.17
Weight Debt = Market Cap / (Market Cap + Debt) = 27.17 / (27.17 + 0.0578) = 0.9979
Weight Cost Debt = 100% - 0.9979 = 0.0021
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 = 1.99
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.99 * 5.94 + 0 = 0.1466
WACC = (0.0116 / 0.0578) * (100% - 0.9979) * (1 - 0.21) + 0.1466 + 0.9979 = 15.84
Terminal Value = Discount (8.76 * (1 + -2.07) / (15.84 - -2.07)) = -2.01
Company Value = ∑ (8.76 / (1 + 15.84) ^ 5) = 5.04
Price = (Terminal Value + Company Value) / Count shares = (-2.01 + 5.04) / 1770100000 = 1.71