NASDAQ: FORM - FormFactor, 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 = 1.05
CAGR EPS = 15.67%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 1.05 * (1 + 15.67%) / (0.0433 * 2) = 14.08

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) = 0.0724
Ebitda Yield = -0.0263
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 = 0.000421
Debt = 0.0228
Market Cap = 2.35
Weight Debt = Market Cap / (Market Cap + Debt) = 2.35 / (2.35 + 0.0228) = 0.9904
Weight Cost Debt = 100% - 0.9904 = 0.0096000000000001
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 = -0.3958
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -0.3958 * 5.94 + 0 = 0.0054
WACC = (0.000421 / 0.0228) * (100% - 0.9904) * (1 - 0.21) + 0.0054 + 0.9904 = 1.45
Terminal Value = Discount (0.0724 * (1 + -0.0263) / (1.45 - -0.0263)) = 1.61
Company Value = ∑ (0.0724 / (1 + 1.45) ^ 5) = 0.3665
Price = (Terminal Value + Company Value) / Count shares = (1.61 + 0.3665) / 78160000 = 25.29

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) = 0.0013
FCF Yield = -0.3107
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 = 0.000421
Debt = 0.0228
Market Cap = 2.35
Weight Debt = Market Cap / (Market Cap + Debt) = 2.35 / (2.35 + 0.0228) = 0.9904
Weight Cost Debt = 100% - 0.9904 = 0.0096000000000001
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 = -0.3958
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -0.3958 * 5.94 + 0 = 0.0054
WACC = (0.000421 / 0.0228) * (100% - 0.9904) * (1 - 0.21) + 0.0054 + 0.9904 = 1.45
Terminal Value = Discount (0.0013 * (1 + -0.3107) / (1.45 - -0.3107)) = 0.0026
Company Value = ∑ (0.0013 / (1 + 1.45) ^ 5) = 0.0155
Price = (Terminal Value + Company Value) / Count shares = (0.0026 + 0.0155) / 78160000 = 0.2325