HKEX: 0547 - Digital Domain Holdings 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 = -0.0535
CAGR EPS = 26.49%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.4125 + (0.4125 * 26.49% / 100) = 0.5218

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) = -0.1449
Ebitda Yield = -0.038
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 = 0.0353
Debt = 0.4424
Market Cap = 1.5
Weight Debt = Market Cap / (Market Cap + Debt) = 1.5 / (1.5 + 0.4424) = 0.7722
Weight Cost Debt = 100% - 0.7722 = 0.2278
Tax = 0.25
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) = -0.7
β = 0.2111
Risk Premium = 18.88
Country Premium = 0.91
Cost Of Equity = -0.7 + 0.2111 * 18.88 + 0.91 = 0.042
WACC = (0.0353 / 0.4424) * (100% - 0.7722) * (1 - 0.25) + 0.042 + 0.7722 = 5.98
Terminal Value = Discount (-0.1449 * (1 + -0.038) / (5.98 - -0.038)) = -1.07
Company Value = ∑ (-0.1449 / (1 + 5.98) ^ 5) = -0.6638
Price = (Terminal Value + Company Value) / Count shares = (-1.07 + -0.6638) / 7379250000 = -0.2345

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) = -0.0957
FCF Yield = -0.1018
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 = 0.0353
Debt = 0.4424
Market Cap = 1.5
Weight Debt = Market Cap / (Market Cap + Debt) = 1.5 / (1.5 + 0.4424) = 0.7722
Weight Cost Debt = 100% - 0.7722 = 0.2278
Tax = 0.25
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) = -0.7
β = 0.2111
Risk Premium = 18.88
Country Premium = 0.91
Cost Of Equity = -0.7 + 0.2111 * 18.88 + 0.91 = 0.042
WACC = (0.0353 / 0.4424) * (100% - 0.7722) * (1 - 0.25) + 0.042 + 0.7722 = 5.98
Terminal Value = Discount (-0.0957 * (1 + -0.1018) / (5.98 - -0.1018)) = -0.3977
Company Value = ∑ (-0.0957 / (1 + 5.98) ^ 5) = -0.5119
Price = (Terminal Value + Company Value) / Count shares = (-0.3977 + -0.5119) / 7379250000 = -0.1233