NASDAQ: SCSC - ScanSource, Inc.

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 = 3.06
CAGR EPS = 19.16%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 3.06 * (1 + 19.16%) / (0.0433 * 2) = 42.04

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) = 0.348
Ebitda Yield = 0.1982
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 = 0.013
Debt = 0.154
Market Cap = 0.7106
Weight Debt = Market Cap / (Market Cap + Debt) = 0.7106 / (0.7106 + 0.154) = 0.8219
Weight Cost Debt = 100% - 0.8219 = 0.1781
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 = 0.2156
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 0.2156 * 5.94 + 0 = 0.0403
WACC = (0.013 / 0.154) * (100% - 0.8219) * (1 - 0.21) + 0.0403 + 0.8219 = 6.66
Terminal Value = Discount (0.348 * (1 + 0.1982) / (6.66 - 0.1982)) = 2.3
Company Value = ∑ (0.348 / (1 + 6.66) ^ 5) = 1.01
Price = (Terminal Value + Company Value) / Count shares = (2.3 + 1.01) / 25360000 = 130.45

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) = 0.5443
FCF Yield = 0.0843
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 = 0.013
Debt = 0.154
Market Cap = 0.7106
Weight Debt = Market Cap / (Market Cap + Debt) = 0.7106 / (0.7106 + 0.154) = 0.8219
Weight Cost Debt = 100% - 0.8219 = 0.1781
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 = 0.2156
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 0.2156 * 5.94 + 0 = 0.0403
WACC = (0.013 / 0.154) * (100% - 0.8219) * (1 - 0.21) + 0.0403 + 0.8219 = 6.66
Terminal Value = Discount (0.5443 * (1 + 0.0843) / (6.66 - 0.0843)) = 24.19
Company Value = ∑ (0.5443 / (1 + 6.66) ^ 5) = 1.91
Price = (Terminal Value + Company Value) / Count shares = (24.19 + 1.91) / 25360000 = 1028.91