BSE: RAJESHEXPO - Rajesh Exports 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 = 11.36
CAGR EPS = -22.57%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 11.36 * (1 + -22.57%) / (0.0433 * 2) = 101.6

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) = 11.8
Ebitda Yield = -0.0391
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 = 1.39
Debt = 7.24
Market Cap = 152.21
Weight Debt = Market Cap / (Market Cap + Debt) = 152.21 / (152.21 + 7.24) = 0.9546
Weight Cost Debt = 100% - 0.9546 = 0.0454
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 = 4.97
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 4.97 * 5.94 + 0 = 0.3237
WACC = (1.39 / 7.24) * (100% - 0.9546) * (1 - 0.21) + 0.3237 + 0.9546 = 15.29
Terminal Value = Discount (11.8 * (1 + -0.0391) / (15.29 - -0.0391)) = 28.98
Company Value = ∑ (11.8 / (1 + 15.29) ^ 5) = 43.08
Price = (Terminal Value + Company Value) / Count shares = (28.98 + 43.08) / 295260000 = 244.07

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) = 0.4379
FCF Yield = -0.2932
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 = 1.39
Debt = 7.24
Market Cap = 152.21
Weight Debt = Market Cap / (Market Cap + Debt) = 152.21 / (152.21 + 7.24) = 0.9546
Weight Cost Debt = 100% - 0.9546 = 0.0454
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 = 4.97
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 4.97 * 5.94 + 0 = 0.3237
WACC = (1.39 / 7.24) * (100% - 0.9546) * (1 - 0.21) + 0.3237 + 0.9546 = 15.29
Terminal Value = Discount (0.4379 * (1 + -0.2932) / (15.29 - -0.2932)) = 0.3407
Company Value = ∑ (0.4379 / (1 + 15.29) ^ 5) = 3.59
Price = (Terminal Value + Company Value) / Count shares = (0.3407 + 3.59) / 295260000 = 13.32