BSE: RADIOCITY - Music Broadcast 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 = 0.198
CAGR EPS = -24.67%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.198 * (1 + -24.67%) / (0.0433 * 2) = 1.72

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) = 0.1818
Ebitda Yield = -0.1572
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 = 0.0939
Debt = 0.9833
Market Cap = 3.83
Weight Debt = Market Cap / (Market Cap + Debt) = 3.83 / (3.83 + 0.9833) = 0.7957
Weight Cost Debt = 100% - 0.7957 = 0.2043
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 = 1.81
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.81 * 5.94 + 0 = 0.1356
WACC = (0.0939 / 0.9833) * (100% - 0.7957) * (1 - 0.21) + 0.1356 + 0.7957 = 7.59
Terminal Value = Discount (0.1818 * (1 + -0.1572) / (7.59 - -0.1572)) = 0.4558
Company Value = ∑ (0.1818 / (1 + 7.59) ^ 5) = 1.09
Price = (Terminal Value + Company Value) / Count shares = (0.4558 + 1.09) / 345690000 = 4.47

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) = 0.0866
FCF Yield = -0.1322
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 = 0.0939
Debt = 0.9833
Market Cap = 3.83
Weight Debt = Market Cap / (Market Cap + Debt) = 3.83 / (3.83 + 0.9833) = 0.7957
Weight Cost Debt = 100% - 0.7957 = 0.2043
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 = 1.81
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.81 * 5.94 + 0 = 0.1356
WACC = (0.0939 / 0.9833) * (100% - 0.7957) * (1 - 0.21) + 0.1356 + 0.7957 = 7.59
Terminal Value = Discount (0.0866 * (1 + -0.1322) / (7.59 - -0.1322)) = 0.2504
Company Value = ∑ (0.0866 / (1 + 7.59) ^ 5) = 0.4832
Price = (Terminal Value + Company Value) / Count shares = (0.2504 + 0.4832) / 345690000 = 2.12