NASDAQ: DISCK - Discovery, Inc.

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 = 1.99
CAGR EPS = 18.18%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 24.42 + (24.42 * 18.18% / 100) = 28.86

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) = 9.09
Ebitda Yield = 0.0325
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 = 0.623
Debt = 14.4
Market Cap = 12.46
Weight Debt = Market Cap / (Market Cap + Debt) = 12.46 / (12.46 + 14.4) = 0.4639
Weight Cost Debt = 100% - 0.4639 = 0.5361
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
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0 * 5.94 + 0 = 0.03
WACC = (0.623 / 14.4) * (100% - 0.4639) * (1 - 0.21) + 0.03 + 0.4639 = 3.42
Terminal Value = Discount (9.09 * (1 + 0.0325) / (3.42 - 0.0325)) = 4848.62
Company Value = ∑ (9.09 / (1 + 3.42) ^ 5) = 38.57
Price = (Terminal Value + Company Value) / Count shares = (4848.62 + 38.57) / 663000000 = 7371.33

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) = 2.52
FCF Yield = 0.0033
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 = 0.623
Debt = 14.4
Market Cap = 12.46
Weight Debt = Market Cap / (Market Cap + Debt) = 12.46 / (12.46 + 14.4) = 0.4639
Weight Cost Debt = 100% - 0.4639 = 0.5361
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
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0 * 5.94 + 0 = 0.03
WACC = (0.623 / 14.4) * (100% - 0.4639) * (1 - 0.21) + 0.03 + 0.4639 = 3.42
Terminal Value = Discount (2.52 * (1 + 0.0033) / (3.42 - 0.0033)) = 69.21
Company Value = ∑ (2.52 / (1 + 3.42) ^ 5) = 11.33
Price = (Terminal Value + Company Value) / Count shares = (69.21 + 11.33) / 663000000 = 121.47