NSE: ASHOKA - Ashoka Buildcon Limited

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 = 17.92
CAGR EPS = 24.92%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 192.18 + (192.18 * 24.92% / 100) = 240.07

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) = 32.67
Ebitda Yield = 0.0665
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 = 11.31
Debt = 54.5
Market Cap = 22.15
Weight Debt = Market Cap / (Market Cap + Debt) = 22.15 / (22.15 + 54.5) = 0.289
Weight Cost Debt = 100% - 0.289 = 0.711
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) = 2.82
β = 3.73
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 3.73 * 5.94 + 0 = 0.2496
WACC = (11.31 / 54.5) * (100% - 0.289) * (1 - 0.21) + 0.2496 + 0.289 = 16.42
Terminal Value = Discount (32.67 * (1 + 0.0665) / (16.42 - 0.0665)) = 166.82
Company Value = ∑ (32.67 / (1 + 16.42) ^ 5) = 91.71
Price = (Terminal Value + Company Value) / Count shares = (166.82 + 91.71) / 280720000 = 920.96

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) = 4.17
FCF Yield = -0.071
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 = 11.31
Debt = 54.5
Market Cap = 22.15
Weight Debt = Market Cap / (Market Cap + Debt) = 22.15 / (22.15 + 54.5) = 0.289
Weight Cost Debt = 100% - 0.289 = 0.711
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) = 2.82
β = 3.73
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 3.73 * 5.94 + 0 = 0.2496
WACC = (11.31 / 54.5) * (100% - 0.289) * (1 - 0.21) + 0.2496 + 0.289 = 16.42
Terminal Value = Discount (4.17 * (1 + -0.071) / (16.42 - -0.071)) = 7.7
Company Value = ∑ (4.17 / (1 + 16.42) ^ 5) = 16.1
Price = (Terminal Value + Company Value) / Count shares = (7.7 + 16.1) / 280720000 = 84.79