NASDAQ: EZPW - EZCORP, Inc.

Price = EPS * (1 + CAGR EPS) / (Key Rate * Excess Key Rate)
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 = 0.4756
CAGR EPS = 64.08%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 0.4756 * (1 + 64.08%) / (0.0458 * 2) = 8.52

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) = 0.3353
Ebitda Yield = 0.157
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 = 0.0165
Debt = 0.4173
Market Cap = 0.4742
Weight Debt = Market Cap / (Market Cap + Debt) = 0.4742 / (0.4742 + 0.4173) = 0.5319
Weight Cost Debt = 100% - 0.5319 = 0.4681
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) = 2.6
β = 1.04
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 1.04 * 5.94 + 0 = 0.0879
WACC = (0.0165 / 0.4173) * (100% - 0.5319) * (1 - 0.21) + 0.0879 + 0.5319 = 3.15
Terminal Value = Discount (0.3353 * (1 + 0.157) / (3.15 - 0.157)) = 2.65
Company Value = ∑ (0.3353 / (1 + 3.15) ^ 5) = 1.16
Price = (Terminal Value + Company Value) / Count shares = (2.65 + 1.16) / 80870000 = 47.02

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) = 0.0586
FCF Yield = -0.0091
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 = 0.0165
Debt = 0.4173
Market Cap = 0.4742
Weight Debt = Market Cap / (Market Cap + Debt) = 0.4742 / (0.4742 + 0.4173) = 0.5319
Weight Cost Debt = 100% - 0.5319 = 0.4681
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) = 2.6
β = 1.04
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 1.04 * 5.94 + 0 = 0.0879
WACC = (0.0165 / 0.4173) * (100% - 0.5319) * (1 - 0.21) + 0.0879 + 0.5319 = 3.15
Terminal Value = Discount (0.0586 * (1 + -0.0091) / (3.15 - -0.0091)) = 1.23
Company Value = ∑ (0.0586 / (1 + 3.15) ^ 5) = 0.2726
Price = (Terminal Value + Company Value) / Count shares = (1.23 + 0.2726) / 80870000 = 18.55