NASDAQ: NLOK - NortonLifeLock

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 = 1.41
CAGR EPS = -3.61%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 1.41 * (1 + -3.61%) / (0.0458 * 2) = 14.89

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) = 1.51
Ebitda Yield = 0.0427
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 = 0.126
Debt = 3.83
Market Cap = 12.91
Weight Debt = Market Cap / (Market Cap + Debt) = 12.91 / (12.91 + 3.83) = 0.7712
Weight Cost Debt = 100% - 0.7712 = 0.2288
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
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 0 * 5.94 + 0 = 0.026
WACC = (0.126 / 3.83) * (100% - 0.7712) * (1 - 0.21) + 0.026 + 0.7712 = 2.6
Terminal Value = Discount (1.51 * (1 + 0.0427) / (2.6 - 0.0427)) = 82.94
Company Value = ∑ (1.51 / (1 + 2.6) ^ 5) = 6.44
Price = (Terminal Value + Company Value) / Count shares = (82.94 + 6.44) / 591000000 = 151.23

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) = 0.4895
FCF Yield = -0.082
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 = 0.126
Debt = 3.83
Market Cap = 12.91
Weight Debt = Market Cap / (Market Cap + Debt) = 12.91 / (12.91 + 3.83) = 0.7712
Weight Cost Debt = 100% - 0.7712 = 0.2288
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
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 0 * 5.94 + 0 = 0.026
WACC = (0.126 / 3.83) * (100% - 0.7712) * (1 - 0.21) + 0.026 + 0.7712 = 2.6
Terminal Value = Discount (0.4895 * (1 + -0.082) / (2.6 - -0.082)) = 3.66
Company Value = ∑ (0.4895 / (1 + 2.6) ^ 5) = 2.72
Price = (Terminal Value + Company Value) / Count shares = (3.66 + 2.72) / 591000000 = 10.8