NASDAQ: LRFC - Logan Ridge Finance Corporation

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 = -0.921
CAGR EPS = 9.16%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 22.36 + (22.36 * 9.16% / 100) = 24.41

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 = 0.96
g = -3.27
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) = 2.6
β = 0.7171
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 0.7171 * 5.94 + 0 = 0.0686
Price = (0.96 * (1 + -3.27)) / (0.0686 - -3.27) = -0.6531

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) = 0.0112
Ebitda Yield = 0.138
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 = 0.0083
Debt = 0.1015
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.1015) = 0
Weight Cost Debt = 100% - 0 = 1
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) = 2.6
β = 0.7171
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 0.7171 * 5.94 + 0 = 0.0686
WACC = (0.0083 / 0.1015) * (100% - 0) * (1 - 0.21) + 0.0686 + 0 = 6.48
Terminal Value = Discount (0.0112 * (1 + 0.138) / (6.48 - 0.138)) = 0.1267
Company Value = ∑ (0.0112 / (1 + 6.48) ^ 5) = 0.0358
Price = (Terminal Value + Company Value) / Count shares = (0.1267 + 0.0358) / 2690000 = 60.43

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) = 0.0011
FCF Yield = -0.2966
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 = 0.0083
Debt = 0.1015
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.1015) = 0
Weight Cost Debt = 100% - 0 = 1
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) = 2.6
β = 0.7171
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 0.7171 * 5.94 + 0 = 0.0686
WACC = (0.0083 / 0.1015) * (100% - 0) * (1 - 0.21) + 0.0686 + 0 = 6.48
Terminal Value = Discount (0.0011 * (1 + -0.2966) / (6.48 - -0.2966)) = 0.0016
Company Value = ∑ (0.0011 / (1 + 6.48) ^ 5) = 0.0108
Price = (Terminal Value + Company Value) / Count shares = (0.0016 + 0.0108) / 2690000 = 4.61