NASDAQ: GIII - G-III Apparel Group, Ltd.

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 = 3.75
CAGR EPS = 4.98%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 27.77 + (27.77 * 4.98% / 100) = 29.15

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) = 0.3469
Ebitda Yield = 0.0243
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 = 0.0396
Debt = 0.6527
Market Cap = 0.9474
Weight Debt = Market Cap / (Market Cap + Debt) = 0.9474 / (0.9474 + 0.6527) = 0.5921
Weight Cost Debt = 100% - 0.5921 = 0.4079
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) = 2.82
β = 0.7594
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0.7594 * 5.94 + 0 = 0.0733
WACC = (0.0396 / 0.6527) * (100% - 0.5921) * (1 - 0.21) + 0.0733 + 0.5921 = 4.81
Terminal Value = Discount (0.3469 * (1 + 0.0243) / (4.81 - 0.0243)) = 11.8
Company Value = ∑ (0.3469 / (1 + 4.81) ^ 5) = 1.44
Price = (Terminal Value + Company Value) / Count shares = (11.8 + 1.44) / 47000000 = 281.72

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) = 1.51
FCF Yield = 0.2177
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 = 0.0396
Debt = 0.6527
Market Cap = 0.9474
Weight Debt = Market Cap / (Market Cap + Debt) = 0.9474 / (0.9474 + 0.6527) = 0.5921
Weight Cost Debt = 100% - 0.5921 = 0.4079
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) = 2.82
β = 0.7594
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0.7594 * 5.94 + 0 = 0.0733
WACC = (0.0396 / 0.6527) * (100% - 0.5921) * (1 - 0.21) + 0.0733 + 0.5921 = 4.81
Terminal Value = Discount (1.51 * (1 + 0.2177) / (4.81 - 0.2177)) = 8.56
Company Value = ∑ (1.51 / (1 + 4.81) ^ 5) = 4.51
Price = (Terminal Value + Company Value) / Count shares = (8.56 + 4.51) / 47000000 = 278.06