BSE: UNIONBANK - Union Bank of India

Price = Avg Price + (Avg Price * CAGR EPS% / 100)
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 = 18.07
CAGR EPS = 29.49%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 130.78 + (130.78 * 29.49% / 100) = 169.34

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) = 1398.56
Ebitda Yield = 0.206
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 = 633.64
Debt = 427.37
Market Cap = 606.04
Weight Debt = Market Cap / (Market Cap + Debt) = 606.04 / (606.04 + 427.37) = 0.5864
Weight Cost Debt = 100% - 0.5864 = 0.4136
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 = 0.9429
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0.9429 * 5.94 + 0 = 0.0842
WACC = (633.64 / 427.37) * (100% - 0.5864) * (1 - 0.21) + 0.0842 + 0.5864 = 116.49
Terminal Value = Discount (1398.56 * (1 + 0.206) / (116.49 - 0.206)) = 36.99
Company Value = ∑ (1398.56 / (1 + 116.49) ^ 5) = 652.49
Price = (Terminal Value + Company Value) / Count shares = (36.99 + 652.49) / 7633610000 = 90.32

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) = 350.26
FCF Yield = 0.1389
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 = 633.64
Debt = 427.37
Market Cap = 606.04
Weight Debt = Market Cap / (Market Cap + Debt) = 606.04 / (606.04 + 427.37) = 0.5864
Weight Cost Debt = 100% - 0.5864 = 0.4136
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 = 0.9429
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0.9429 * 5.94 + 0 = 0.0842
WACC = (633.64 / 427.37) * (100% - 0.5864) * (1 - 0.21) + 0.0842 + 0.5864 = 116.49
Terminal Value = Discount (350.26 * (1 + 0.1389) / (116.49 - 0.1389)) = 8.18
Company Value = ∑ (350.26 / (1 + 116.49) ^ 5) = 194.74
Price = (Terminal Value + Company Value) / Count shares = (8.18 + 194.74) / 7633610000 = 26.58