NASDAQ: RMNI - Rimini Street, 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 = 0.291
CAGR EPS = 1.86%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 1.97 + (1.97 * 1.86% / 100) = 2.01

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) = 0.1326
Ebitda Yield = 0.1863
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 = 0.0064
Debt = 0.0748
Market Cap = 0.4286
Weight Debt = Market Cap / (Market Cap + Debt) = 0.4286 / (0.4286 + 0.0748) = 0.8514
Weight Cost Debt = 100% - 0.8514 = 0.1486
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 = -3.36
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + -3.36 * 5.94 + 0 = -0.1736
WACC = (0.0064 / 0.0748) * (100% - 0.8514) * (1 - 0.21) + -0.1736 + 0.8514 = 6.52
Terminal Value = Discount (0.1326 * (1 + 0.1863) / (6.52 - 0.1863)) = 0.9468
Company Value = ∑ (0.1326 / (1 + 6.52) ^ 5) = 0.3943
Price = (Terminal Value + Company Value) / Count shares = (0.9468 + 0.3943) / 89540000 = 14.98

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) = 0.002
FCF Yield = -0.1781
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 = 0.0064
Debt = 0.0748
Market Cap = 0.4286
Weight Debt = Market Cap / (Market Cap + Debt) = 0.4286 / (0.4286 + 0.0748) = 0.8514
Weight Cost Debt = 100% - 0.8514 = 0.1486
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 = -3.36
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + -3.36 * 5.94 + 0 = -0.1736
WACC = (0.0064 / 0.0748) * (100% - 0.8514) * (1 - 0.21) + -0.1736 + 0.8514 = 6.52
Terminal Value = Discount (0.002 * (1 + -0.1781) / (6.52 - -0.1781)) = 0.0049
Company Value = ∑ (0.002 / (1 + 6.52) ^ 5) = 0.0129
Price = (Terminal Value + Company Value) / Count shares = (0.0049 + 0.0129) / 89540000 = 0.1983