BSE: INDUSINDBK - IndusInd Bank 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 = 115.34
CAGR EPS = 11.39%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 1108.48 + (1108.48 * 11.39% / 100) = 1234.76

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) = 419.47
Ebitda Yield = 0.0732
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 = 251.32
Debt = 490.11
Market Cap = 1110
Weight Debt = Market Cap / (Market Cap + Debt) = 1110 / (1110 + 490.11) = 0.6937
Weight Cost Debt = 100% - 0.6937 = 0.3063
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) = 2.39
β = 1.72
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + 1.72 * 5.94 + 0 = 0.1262
WACC = (251.32 / 490.11) * (100% - 0.6937) * (1 - 0.21) + 0.1262 + 0.6937 = 40.32
Terminal Value = Discount (419.47 * (1 + 0.0732) / (40.32 - 0.0732)) = 250.81
Company Value = ∑ (419.47 / (1 + 40.32) ^ 5) = 707.5
Price = (Terminal Value + Company Value) / Count shares = (250.81 + 707.5) / 778320000 = 1231.26

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) = -221.35
FCF Yield = 0.0463
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 = 251.32
Debt = 490.11
Market Cap = 1110
Weight Debt = Market Cap / (Market Cap + Debt) = 1110 / (1110 + 490.11) = 0.6937
Weight Cost Debt = 100% - 0.6937 = 0.3063
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) = 2.39
β = 1.72
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + 1.72 * 5.94 + 0 = 0.1262
WACC = (251.32 / 490.11) * (100% - 0.6937) * (1 - 0.21) + 0.1262 + 0.6937 = 40.32
Terminal Value = Discount (-221.35 * (1 + 0.0463) / (40.32 - 0.0463)) = -119.3
Company Value = ∑ (-221.35 / (1 + 40.32) ^ 5) = -398.27
Price = (Terminal Value + Company Value) / Count shares = (-119.3 + -398.27) / 778320000 = -664.98