NSE: ALLCARGO - Allcargo Logistics 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 = 1.52
CAGR EPS = -30.05%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 1.52 * (1 + -30.05%) / (0.0458 * 2) = 11.61

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) = 4.09
Ebitda Yield = -0.026
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 = 1.3
Debt = 11.69
Market Cap = 69.47
Weight Debt = Market Cap / (Market Cap + Debt) = 69.47 / (69.47 + 11.69) = 0.856
Weight Cost Debt = 100% - 0.856 = 0.144
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 = 0.6726
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 0.6726 * 5.94 + 0 = 0.0675
WACC = (1.3 / 11.69) * (100% - 0.856) * (1 - 0.21) + 0.0675 + 0.856 = 8.76
Terminal Value = Discount (4.09 * (1 + -0.026) / (8.76 - -0.026)) = 23.05
Company Value = ∑ (4.09 / (1 + 8.76) ^ 5) = 16.97
Price = (Terminal Value + Company Value) / Count shares = (23.05 + 16.97) / 982970000 = 40.72

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) = -1.89
FCF Yield = -0.0882
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 = 1.3
Debt = 11.69
Market Cap = 69.47
Weight Debt = Market Cap / (Market Cap + Debt) = 69.47 / (69.47 + 11.69) = 0.856
Weight Cost Debt = 100% - 0.856 = 0.144
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 = 0.6726
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 0.6726 * 5.94 + 0 = 0.0675
WACC = (1.3 / 11.69) * (100% - 0.856) * (1 - 0.21) + 0.0675 + 0.856 = 8.76
Terminal Value = Discount (-1.89 * (1 + -0.0882) / (8.76 - -0.0882)) = -6.44
Company Value = ∑ (-1.89 / (1 + 8.76) ^ 5) = -9.1
Price = (Terminal Value + Company Value) / Count shares = (-6.44 + -9.1) / 982970000 = -15.81