MOEX: UPRO - Юнипро

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 = 0.3496
CAGR EPS = 42%
Key Rate = 0.21
Excess Key Rate = 2
Price = 2.11 + (2.11 * 42% / 100) = 3

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) = 41.37
Ebitda Yield = 0.0291
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 = 0.2374
Debt = 0.7913
Market Cap = 122.25
Weight Debt = Market Cap / (Market Cap + Debt) = 122.25 / (122.25 + 0.7913) = 0.9936
Weight Cost Debt = 100% - 0.9936 = 0.0064
Tax = 0.2
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) = 9.51
β = 2.67
Risk Premium = 5.91
Country Premium = 12.94
Cost Of Equity = 9.51 + 2.67 * 5.91 + 12.94 = 0.3823
WACC = (0.2374 / 0.7913) * (100% - 0.9936) * (1 - 0.2) + 0.3823 + 0.9936 = 24.14
Terminal Value = Discount (41.37 * (1 + 0.0291) / (24.14 - 0.0291)) = 68.01
Company Value = ∑ (41.37 / (1 + 24.14) ^ 5) = 105.72
Price = (Terminal Value + Company Value) / Count shares = (68.01 + 105.72) / 63049000000 = 2.76

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) = 29.24
FCF Yield = 0.1115
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 = 0.2374
Debt = 0.7913
Market Cap = 122.25
Weight Debt = Market Cap / (Market Cap + Debt) = 122.25 / (122.25 + 0.7913) = 0.9936
Weight Cost Debt = 100% - 0.9936 = 0.0064
Tax = 0.2
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) = 9.51
β = 2.67
Risk Premium = 5.91
Country Premium = 12.94
Cost Of Equity = 9.51 + 2.67 * 5.91 + 12.94 = 0.3823
WACC = (0.2374 / 0.7913) * (100% - 0.9936) * (1 - 0.2) + 0.3823 + 0.9936 = 24.14
Terminal Value = Discount (29.24 * (1 + 0.1115) / (24.14 - 0.1115)) = 84.81
Company Value = ∑ (29.24 / (1 + 24.14) ^ 5) = 62.62
Price = (Terminal Value + Company Value) / Count shares = (84.81 + 62.62) / 63049000000 = 2.34