NASDAQ: ESGR - Enstar Group 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 = 70.75
CAGR EPS = 11.3%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 299.5 + (299.5 * 11.3% / 100) = 333.33

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 Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = 1.4
Ebitda Yield = 0.0391
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 = 0.09
Debt = 1.83
Market Cap = 3.98
Weight Debt = Market Cap / (Market Cap + Debt) = 3.98 / (3.98 + 1.83) = 0.6849
Weight Cost Debt = 100% - 0.6849 = 0.3151
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) = 2.89
β = 0.2593
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 0.2593 * 5.94 + 0 = 0.0443
WACC = (0.09 / 1.83) * (100% - 0.6849) * (1 - 0.21) + 0.0443 + 0.6849 = 3.89
Terminal Value = Discount (1.4 * (1 + 0.0391) / (3.89 - 0.0391)) = 5805.47
Company Value = ∑ (1.4 / (1 + 3.89) ^ 5) = 5.79
Price = (Terminal Value + Company Value) / Count shares = (5805.47 + 5.79) / 15800000 = 367801.76

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) = 0.2027
FCF Yield = -0.1727
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 = 0.09
Debt = 1.83
Market Cap = 3.98
Weight Debt = Market Cap / (Market Cap + Debt) = 3.98 / (3.98 + 1.83) = 0.6849
Weight Cost Debt = 100% - 0.6849 = 0.3151
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) = 2.89
β = 0.2593
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 0.2593 * 5.94 + 0 = 0.0443
WACC = (0.09 / 1.83) * (100% - 0.6849) * (1 - 0.21) + 0.0443 + 0.6849 = 3.89
Terminal Value = Discount (0.2027 * (1 + -0.1727) / (3.89 - -0.1727)) = 0.6551
Company Value = ∑ (0.2027 / (1 + 3.89) ^ 5) = 1.39
Price = (Terminal Value + Company Value) / Count shares = (0.6551 + 1.39) / 15800000 = 129.45