NASDAQ: IREN - Iris Energy 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 = -0.2906
CAGR EPS = 50.4%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 10.56 + (10.56 * 50.4% / 100) = 15.87

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) = 0.3417
Ebitda Yield = 0.6817
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 = 0.000253
Debt = 0.0017
Market Cap = 0.2425
Weight Debt = Market Cap / (Market Cap + Debt) = 0.2425 / (0.2425 + 0.0017) = 0.9932
Weight Cost Debt = 100% - 0.9932 = 0.0068
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) = 2.75
β = 3.55
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 3.55 * 5.94 + 0 = 0.2382
WACC = (0.000253 / 0.0017) * (100% - 0.9932) * (1 - 0.21) + 0.2382 + 0.9932 = 12.19
Terminal Value = Discount (0.3417 * (1 + 0.6817) / (12.19 - 0.6817)) = 0.5775
Company Value = ∑ (0.3417 / (1 + 12.19) ^ 5) = 0.5012
Price = (Terminal Value + Company Value) / Count shares = (0.5775 + 0.5012) / 54780000 = 19.69

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) = -19.29
FCF Yield = 1.14
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 = 0.000253
Debt = 0.0017
Market Cap = 0.2425
Weight Debt = Market Cap / (Market Cap + Debt) = 0.2425 / (0.2425 + 0.0017) = 0.9932
Weight Cost Debt = 100% - 0.9932 = 0.0068
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) = 2.75
β = 3.55
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 3.55 * 5.94 + 0 = 0.2382
WACC = (0.000253 / 0.0017) * (100% - 0.9932) * (1 - 0.21) + 0.2382 + 0.9932 = 12.19
Terminal Value = Discount (-19.29 * (1 + 1.14) / (12.19 - 1.14)) = -22.78
Company Value = ∑ (-19.29 / (1 + 12.19) ^ 5) = -21.88
Price = (Terminal Value + Company Value) / Count shares = (-22.78 + -21.88) / 54780000 = -815.21