BSE: IOB - Indian Overseas Bank

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 = 1.41
CAGR EPS = 16.7%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 1.41 * (1 + 16.7%) / (0.0433 * 2) = 19

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) = 260.45
Ebitda Yield = 0.1093
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 = 142.27
Debt = 208.04
Market Cap = 499.02
Weight Debt = Market Cap / (Market Cap + Debt) = 499.02 / (499.02 + 208.04) = 0.7058
Weight Cost Debt = 100% - 0.7058 = 0.2942
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 = 2.67
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 2.67 * 5.94 + 0 = 0.1867
WACC = (142.27 / 208.04) * (100% - 0.7058) * (1 - 0.21) + 0.1867 + 0.7058 = 53.77
Terminal Value = Discount (260.45 * (1 + 0.1093) / (53.77 - 0.1093)) = 78.44
Company Value = ∑ (260.45 / (1 + 53.77) ^ 5) = 323
Price = (Terminal Value + Company Value) / Count shares = (78.44 + 323) / 18902410000 = 21.24

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) = -2.67
FCF Yield = -0.2904
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 = 142.27
Debt = 208.04
Market Cap = 499.02
Weight Debt = Market Cap / (Market Cap + Debt) = 499.02 / (499.02 + 208.04) = 0.7058
Weight Cost Debt = 100% - 0.7058 = 0.2942
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 = 2.67
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 2.67 * 5.94 + 0 = 0.1867
WACC = (142.27 / 208.04) * (100% - 0.7058) * (1 - 0.21) + 0.1867 + 0.7058 = 53.77
Terminal Value = Discount (-2.67 * (1 + -0.2904) / (53.77 - -0.2904)) = -0.2661
Company Value = ∑ (-2.67 / (1 + 53.77) ^ 5) = -12.45
Price = (Terminal Value + Company Value) / Count shares = (-0.2661 + -12.45) / 18902410000 = -0.6728