BSE: HINDOILEXP - Hindustan Oil Exploration 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 = 17.12
CAGR EPS = 10.46%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 177.23 + (177.23 * 10.46% / 100) = 195.76

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) = 3.61
Ebitda Yield = 0.0529
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 = 0.2857
Debt = 1.74
Market Cap = 27.33
Weight Debt = Market Cap / (Market Cap + Debt) = 27.33 / (27.33 + 1.74) = 0.9401
Weight Cost Debt = 100% - 0.9401 = 0.0599
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 = 0.7527
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0.7527 * 5.94 + 0 = 0.0729
WACC = (0.2857 / 1.74) * (100% - 0.9401) * (1 - 0.21) + 0.0729 + 0.9401 = 12.91
Terminal Value = Discount (3.61 * (1 + 0.0529) / (12.91 - 0.0529)) = 27.16
Company Value = ∑ (3.61 / (1 + 12.91) ^ 5) = 11.36
Price = (Terminal Value + Company Value) / Count shares = (27.16 + 11.36) / 132240000 = 291.23

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) = 6.04
FCF Yield = 0.4213
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 = 0.2857
Debt = 1.74
Market Cap = 27.33
Weight Debt = Market Cap / (Market Cap + Debt) = 27.33 / (27.33 + 1.74) = 0.9401
Weight Cost Debt = 100% - 0.9401 = 0.0599
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 = 0.7527
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0.7527 * 5.94 + 0 = 0.0729
WACC = (0.2857 / 1.74) * (100% - 0.9401) * (1 - 0.21) + 0.0729 + 0.9401 = 12.91
Terminal Value = Discount (6.04 * (1 + 0.4213) / (12.91 - 0.4213)) = 16
Company Value = ∑ (6.04 / (1 + 12.91) ^ 5) = 10.94
Price = (Terminal Value + Company Value) / Count shares = (16 + 10.94) / 132240000 = 203.73