NSE: AHL - Abans Holdings Limited

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 = 9.8
CAGR EPS = -55.73%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 9.8 * (1 + -55.73%) / (0.0433 * 2) = 50.1

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) = 1.44
Ebitda Yield = 0.131
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 = 0.2839
Debt = 5.14
Market Cap = 15.19
Weight Debt = Market Cap / (Market Cap + Debt) = 15.19 / (15.19 + 5.14) = 0.7472
Weight Cost Debt = 100% - 0.7472 = 0.2528
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 = 5.96
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 5.96 * 5.94 + 0 = 0.3814
WACC = (0.2839 / 5.14) * (100% - 0.7472) * (1 - 0.21) + 0.3814 + 0.7472 = 4.62
Terminal Value = Discount (1.44 * (1 + 0.131) / (4.62 - 0.131)) = 15.29
Company Value = ∑ (1.44 / (1 + 4.62) ^ 5) = 4.94
Price = (Terminal Value + Company Value) / Count shares = (15.29 + 4.94) / 47380000 = 426.95

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) = 0.0148
FCF Yield = -0.4285
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 = 0.2839
Debt = 5.14
Market Cap = 15.19
Weight Debt = Market Cap / (Market Cap + Debt) = 15.19 / (15.19 + 5.14) = 0.7472
Weight Cost Debt = 100% - 0.7472 = 0.2528
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 = 5.96
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 5.96 * 5.94 + 0 = 0.3814
WACC = (0.2839 / 5.14) * (100% - 0.7472) * (1 - 0.21) + 0.3814 + 0.7472 = 4.62
Terminal Value = Discount (0.0148 * (1 + -0.4285) / (4.62 - -0.4285)) = 0.0142
Company Value = ∑ (0.0148 / (1 + 4.62) ^ 5) = 0.2772
Price = (Terminal Value + Company Value) / Count shares = (0.0142 + 0.2772) / 47380000 = 6.15