BSE: VMART - V-Mart Retail Limited

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 = -48.93
CAGR EPS = -212.51%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0 + (0 * -212.51% / 100) = 635.67

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) = 5.4
Ebitda Yield = 0.1373
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 = 1.42
Debt = 13.32
Market Cap = 41.45
Weight Debt = Market Cap / (Market Cap + Debt) = 41.45 / (41.45 + 13.32) = 0.7568
Weight Cost Debt = 100% - 0.7568 = 0.2432
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) = 3
β = 0.6172
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0.6172 * 5.94 + 0 = 0.0667
WACC = (1.42 / 13.32) * (100% - 0.7568) * (1 - 0.21) + 0.0667 + 0.7568 = 8.4
Terminal Value = Discount (5.4 * (1 + 0.1373) / (8.4 - 0.1373)) = 76.96
Company Value = ∑ (5.4 / (1 + 8.4) ^ 5) = 16.43
Price = (Terminal Value + Company Value) / Count shares = (76.96 + 16.43) / 19780000 = 4721.36

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) = 18.79
FCF Yield = 0.4819
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 = 1.42
Debt = 13.32
Market Cap = 41.45
Weight Debt = Market Cap / (Market Cap + Debt) = 41.45 / (41.45 + 13.32) = 0.7568
Weight Cost Debt = 100% - 0.7568 = 0.2432
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) = 3
β = 0.6172
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0.6172 * 5.94 + 0 = 0.0667
WACC = (1.42 / 13.32) * (100% - 0.7568) * (1 - 0.21) + 0.0667 + 0.7568 = 8.4
Terminal Value = Discount (18.79 * (1 + 0.4819) / (8.4 - 0.4819)) = 46.75
Company Value = ∑ (18.79 / (1 + 8.4) ^ 5) = 36.96
Price = (Terminal Value + Company Value) / Count shares = (46.75 + 36.96) / 19780000 = 4232.07