BSE: INFIBEAM - Infibeam Avenues 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 = 0.5709
CAGR EPS = 7.05%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.5709 * (1 + 7.05%) / (0.0433 * 2) = 7.06

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 = 0.05
g = 0.0421
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) = 3
β = 2.6
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 2.6 * 5.94 + 0 = 0.1847
Price = (0.05 * (1 + 0.0421)) / (0.1847 - 0.0421) = 0.3654

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) = 2.49
Ebitda Yield = 0.0025
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 = 0.0237
Debt = 0.7172
Market Cap = 42.12
Weight Debt = Market Cap / (Market Cap + Debt) = 42.12 / (42.12 + 0.7172) = 0.9833
Weight Cost Debt = 100% - 0.9833 = 0.0167
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) = 3
β = 2.6
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 2.6 * 5.94 + 0 = 0.1847
WACC = (0.0237 / 0.7172) * (100% - 0.9833) * (1 - 0.21) + 0.1847 + 0.9833 = 2.77
Terminal Value = Discount (2.49 * (1 + 0.0025) / (2.77 - 0.0025)) = 86.54
Company Value = ∑ (2.49 / (1 + 2.77) ^ 5) = 11.41
Price = (Terminal Value + Company Value) / Count shares = (86.54 + 11.41) / 2769690000 = 35.37

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) = 41.52
FCF Yield = 0.5754
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 = 0.0237
Debt = 0.7172
Market Cap = 42.12
Weight Debt = Market Cap / (Market Cap + Debt) = 42.12 / (42.12 + 0.7172) = 0.9833
Weight Cost Debt = 100% - 0.9833 = 0.0167
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) = 3
β = 2.6
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 2.6 * 5.94 + 0 = 0.1847
WACC = (0.0237 / 0.7172) * (100% - 0.9833) * (1 - 0.21) + 0.1847 + 0.9833 = 2.77
Terminal Value = Discount (41.52 * (1 + 0.5754) / (2.77 - 0.5754)) = 104.19
Company Value = ∑ (41.52 / (1 + 2.77) ^ 5) = 91.88
Price = (Terminal Value + Company Value) / Count shares = (104.19 + 91.88) / 2769690000 = 70.79