BSE: TTKPRESTIG - TTK Prestige 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 = 16.48
CAGR EPS = -24.13%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 16.48 * (1 + -24.13%) / (0.0433 * 2) = 144.41

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 = 6
g = 0.0839
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 = 4.25
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 4.25 * 5.94 + 0 = 0.2808
Price = (6 * (1 + 0.0839)) / (0.2808 - 0.0839) = 33.02

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) = 4.92
Ebitda Yield = 0.0402
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 = 0.1325
Debt = 1.31
Market Cap = 101.89
Weight Debt = Market Cap / (Market Cap + Debt) = 101.89 / (101.89 + 1.31) = 0.9873
Weight Cost Debt = 100% - 0.9873 = 0.0127
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 = 4.25
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 4.25 * 5.94 + 0 = 0.2808
WACC = (0.1325 / 1.31) * (100% - 0.9873) * (1 - 0.21) + 0.2808 + 0.9873 = 8.19
Terminal Value = Discount (4.92 * (1 + 0.0402) / (8.19 - 0.0402)) = 82.96
Company Value = ∑ (4.92 / (1 + 8.19) ^ 5) = 17.99
Price = (Terminal Value + Company Value) / Count shares = (82.96 + 17.99) / 138610000 = 728.35

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) = 2.44
FCF Yield = 0.0199
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 = 0.1325
Debt = 1.31
Market Cap = 101.89
Weight Debt = Market Cap / (Market Cap + Debt) = 101.89 / (101.89 + 1.31) = 0.9873
Weight Cost Debt = 100% - 0.9873 = 0.0127
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 = 4.25
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 4.25 * 5.94 + 0 = 0.2808
WACC = (0.1325 / 1.31) * (100% - 0.9873) * (1 - 0.21) + 0.2808 + 0.9873 = 8.19
Terminal Value = Discount (2.44 * (1 + 0.0199) / (8.19 - 0.0199)) = 27.08
Company Value = ∑ (2.44 / (1 + 8.19) ^ 5) = 9.3
Price = (Terminal Value + Company Value) / Count shares = (27.08 + 9.3) / 138610000 = 262.52