NASDAQ: INTC - Intel

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 = 0.401
CAGR EPS = -38.9%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.401 * (1 + -38.9%) / (0.0433 * 2) = 2.83

Price = (DPS * (1 + g)) / (Cost Of Equity - g)
Price - 价格公道
DPS — 当期股息
g — 预期增长率
DPS = 0.25
g = -0.3707
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 = 1.89
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.89 * 5.94 + 0 = 0.1407
Price = (0.25 * (1 + -0.3707)) / (0.1407 - -0.3707) = 0.3076

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) = 0.0016
Ebitda Yield = -0.5537
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 = 0.76
Debt = 49.28
Market Cap = 137.16
Weight Debt = Market Cap / (Market Cap + Debt) = 137.16 / (137.16 + 49.28) = 0.7357
Weight Cost Debt = 100% - 0.7357 = 0.2643
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 = 1.89
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.89 * 5.94 + 0 = 0.1407
WACC = (0.76 / 49.28) * (100% - 0.7357) * (1 - 0.21) + 0.1407 + 0.7357 = 1.31
Terminal Value = Discount (0.0016 * (1 + -0.5537) / (1.31 - -0.5537)) = 0.0012
Company Value = ∑ (0.0016 / (1 + 1.31) ^ 5) = 0.072
Price = (Terminal Value + Company Value) / Count shares = (0.0012 + 0.072) / 4211999999 = 0.0174

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) = 0.8836
FCF Yield = -1.57
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 = 0.76
Debt = 49.28
Market Cap = 137.16
Weight Debt = Market Cap / (Market Cap + Debt) = 137.16 / (137.16 + 49.28) = 0.7357
Weight Cost Debt = 100% - 0.7357 = 0.2643
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 = 1.89
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.89 * 5.94 + 0 = 0.1407
WACC = (0.76 / 49.28) * (100% - 0.7357) * (1 - 0.21) + 0.1407 + 0.7357 = 1.31
Terminal Value = Discount (0.8836 * (1 + -1.57) / (1.31 - -1.57)) = -0.2991
Company Value = ∑ (0.8836 / (1 + 1.31) ^ 5) = 5.46
Price = (Terminal Value + Company Value) / Count shares = (-0.2991 + 5.46) / 4211999999 = 1.22