NASDAQ: CGC - Canopy Growth Corporation

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 = -8.79
CAGR EPS = 22.7%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 3.91 + (3.91 * 22.7% / 100) = 4.8

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) = -0.1003
Ebitda Yield = -0.2035
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 = 0.1054
Debt = 0.668
Market Cap = 0.3283
Weight Debt = Market Cap / (Market Cap + Debt) = 0.3283 / (0.3283 + 0.668) = 0.3295
Weight Cost Debt = 100% - 0.3295 = 0.6705
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) = 2.75
β = -4.01
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -4.01 * 5.94 + 0 = -0.2105
WACC = (0.1054 / 0.668) * (100% - 0.3295) * (1 - 0.21) + -0.2105 + 0.3295 = 12.35
Terminal Value = Discount (-0.1003 * (1 + -0.2035) / (12.35 - -0.2035)) = -0.1365
Company Value = ∑ (-0.1003 / (1 + 12.35) ^ 5) = -0.6256
Price = (Terminal Value + Company Value) / Count shares = (-0.1365 + -0.6256) / 463720000 = -1.64

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) = -0.0798
FCF Yield = -0.2253
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 = 0.1054
Debt = 0.668
Market Cap = 0.3283
Weight Debt = Market Cap / (Market Cap + Debt) = 0.3283 / (0.3283 + 0.668) = 0.3295
Weight Cost Debt = 100% - 0.3295 = 0.6705
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) = 2.75
β = -4.01
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -4.01 * 5.94 + 0 = -0.2105
WACC = (0.1054 / 0.668) * (100% - 0.3295) * (1 - 0.21) + -0.2105 + 0.3295 = 12.35
Terminal Value = Discount (-0.0798 * (1 + -0.2253) / (12.35 - -0.2253)) = -0.099
Company Value = ∑ (-0.0798 / (1 + 12.35) ^ 5) = -0.5361
Price = (Terminal Value + Company Value) / Count shares = (-0.099 + -0.5361) / 463720000 = -1.37