NASDAQ: OBNK - Origin Bancorp, 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 = 3.73
CAGR EPS = 5.36%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 32.27 + (32.27 * 5.36% / 100) = 34

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) = 0.5108
Ebitda Yield = 0.1907
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 = 0.0513
Debt = 1.39
Market Cap = 0.905
Weight Debt = Market Cap / (Market Cap + Debt) = 0.905 / (0.905 + 1.39) = 0.3942
Weight Cost Debt = 100% - 0.3942 = 0.6058
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
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 0 * 5.94 + 0 = 0.0275
WACC = (0.0513 / 1.39) * (100% - 0.3942) * (1 - 0.21) + 0.0275 + 0.3942 = 2.91
Terminal Value = Discount (0.5108 * (1 + 0.1907) / (2.91 - 0.1907)) = 3.26
Company Value = ∑ (0.5108 / (1 + 2.91) ^ 5) = 1.69
Price = (Terminal Value + Company Value) / Count shares = (3.26 + 1.69) / 23510000 = 210.49

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) = 0.3462
FCF Yield = 0.19
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 = 0.0513
Debt = 1.39
Market Cap = 0.905
Weight Debt = Market Cap / (Market Cap + Debt) = 0.905 / (0.905 + 1.39) = 0.3942
Weight Cost Debt = 100% - 0.3942 = 0.6058
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
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 0 * 5.94 + 0 = 0.0275
WACC = (0.0513 / 1.39) * (100% - 0.3942) * (1 - 0.21) + 0.0275 + 0.3942 = 2.91
Terminal Value = Discount (0.3462 * (1 + 0.19) / (2.91 - 0.19)) = 2.22
Company Value = ∑ (0.3462 / (1 + 2.91) ^ 5) = 1.15
Price = (Terminal Value + Company Value) / Count shares = (2.22 + 1.15) / 23510000 = 143.1