NASDAQ: MXIM - Maxim Integrated Products

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 = 3.05
CAGR EPS = 9.03%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 3.05 * (1 + 9.03%) / (0.0458 * 2) = 36.3

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) = 1.27
Ebitda Yield = 0.0373
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
Debt = 0.9955
Market Cap = 27.48
Weight Debt = Market Cap / (Market Cap + Debt) = 27.48 / (27.48 + 0.9955) = 0.965
Weight Cost Debt = 100% - 0.965 = 0.035
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 = -0.0299
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -0.0299 * 5.94 + 0 = 0.0257
WACC = (0 / 0.9955) * (100% - 0.965) * (1 - 0.21) + 0.0257 + 0.965 = 0.0248
Terminal Value = Discount (1.27 * (1 + 0.0373) / (0.0248 - 0.0373)) = 35.58
Company Value = ∑ (1.27 / (1 + 0.0248) ^ 5) = 5.92
Price = (Terminal Value + Company Value) / Count shares = (35.58 + 5.92) / 270000000 = 153.69

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) = 0.988
FCF Yield = 0.0283
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
Debt = 0.9955
Market Cap = 27.48
Weight Debt = Market Cap / (Market Cap + Debt) = 27.48 / (27.48 + 0.9955) = 0.965
Weight Cost Debt = 100% - 0.965 = 0.035
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 = -0.0299
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -0.0299 * 5.94 + 0 = 0.0257
WACC = (0 / 0.9955) * (100% - 0.965) * (1 - 0.21) + 0.0257 + 0.965 = 0.0248
Terminal Value = Discount (0.988 * (1 + 0.0283) / (0.0248 - 0.0283)) = 36.17
Company Value = ∑ (0.988 / (1 + 0.0248) ^ 5) = 4.67
Price = (Terminal Value + Company Value) / Count shares = (36.17 + 4.67) / 270000000 = 151.27