NASDAQ: VINP - Vinci Partners Investments Ltd.

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 = 4.1
CAGR EPS = 7.87%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 10.71 + (10.71 * 7.87% / 100) = 11.55

Price = (DPS * (1 + g)) / (Cost Of Equity - g)
Price - 价格公道
DPS — 当期股息
g — 预期增长率
DPS = 0.54
g = 0.0442
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 = -1.12
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -1.12 * 5.94 + 0 = -0.039
Price = (0.54 * (1 + 0.0442)) / (-0.039 - 0.0442) = 6.78

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) = 0.2189
Ebitda Yield = 0.0077
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 = 0.0335
Debt = 0.6415
Market Cap = 0.5246
Weight Debt = Market Cap / (Market Cap + Debt) = 0.5246 / (0.5246 + 0.6415) = 0.4499
Weight Cost Debt = 100% - 0.4499 = 0.5501
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 = -1.12
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -1.12 * 5.94 + 0 = -0.039
WACC = (0.0335 / 0.6415) * (100% - 0.4499) * (1 - 0.21) + -0.039 + 0.4499 = 4.09
Terminal Value = Discount (0.2189 * (1 + 0.0077) / (4.09 - 0.0077)) = 5.43
Company Value = ∑ (0.2189 / (1 + 4.09) ^ 5) = 0.9565
Price = (Terminal Value + Company Value) / Count shares = (5.43 + 0.9565) / 53780000 = 118.82

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) = 0.2271
FCF Yield = 0.0506
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 = 0.0335
Debt = 0.6415
Market Cap = 0.5246
Weight Debt = Market Cap / (Market Cap + Debt) = 0.5246 / (0.5246 + 0.6415) = 0.4499
Weight Cost Debt = 100% - 0.4499 = 0.5501
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 = -1.12
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -1.12 * 5.94 + 0 = -0.039
WACC = (0.0335 / 0.6415) * (100% - 0.4499) * (1 - 0.21) + -0.039 + 0.4499 = 4.09
Terminal Value = Discount (0.2271 * (1 + 0.0506) / (4.09 - 0.0506)) = 20.29
Company Value = ∑ (0.2271 / (1 + 4.09) ^ 5) = 0.9121
Price = (Terminal Value + Company Value) / Count shares = (20.29 + 0.9121) / 53780000 = 394.21