NASDAQ: LGIH - LGI Homes, Inc.

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 = 8.42
CAGR EPS = 3.71%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 104.81 + (104.81 * 3.71% / 100) = 108.7

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) = 0.2422
Ebitda Yield = 0.0055
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 = 0.0876
Debt = 1.35
Market Cap = 2.78
Weight Debt = Market Cap / (Market Cap + Debt) = 2.78 / (2.78 + 1.35) = 0.6727
Weight Cost Debt = 100% - 0.6727 = 0.3273
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) = 3
β = -2.19
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -2.19 * 5.94 + 0 = -0.1001
WACC = (0.0876 / 1.35) * (100% - 0.6727) * (1 - 0.21) + -0.1001 + 0.6727 = 5.01
Terminal Value = Discount (0.2422 * (1 + 0.0055) / (5.01 - 0.0055)) = 4.27
Company Value = ∑ (0.2422 / (1 + 5.01) ^ 5) = 1.04
Price = (Terminal Value + Company Value) / Count shares = (4.27 + 1.04) / 23650000 = 224.54

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) = -0.0752
FCF Yield = 0.0517
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 = 0.0876
Debt = 1.35
Market Cap = 2.78
Weight Debt = Market Cap / (Market Cap + Debt) = 2.78 / (2.78 + 1.35) = 0.6727
Weight Cost Debt = 100% - 0.6727 = 0.3273
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) = 3
β = -2.19
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -2.19 * 5.94 + 0 = -0.1001
WACC = (0.0876 / 1.35) * (100% - 0.6727) * (1 - 0.21) + -0.1001 + 0.6727 = 5.01
Terminal Value = Discount (-0.0752 * (1 + 0.0517) / (5.01 - 0.0517)) = -38.89
Company Value = ∑ (-0.0752 / (1 + 5.01) ^ 5) = -0.2934
Price = (Terminal Value + Company Value) / Count shares = (-38.89 + -0.2934) / 23650000 = -1657