NSE: CANBK - Canara Bank

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 = 16.83
CAGR EPS = 23.74%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 237.42 + (237.42 * 23.74% / 100) = 293.78

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 = 3.22
g = -0.3547
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 = -0.7485
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -0.7485 * 5.94 + 0 = -0.017
Price = (3.22 * (1 + -0.3547)) / (-0.017 - -0.3547) = 6.15

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) = 2252.04
Ebitda Yield = 0.6012
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 = 721.18
Debt = 575.38
Market Cap = 616.26
Weight Debt = Market Cap / (Market Cap + Debt) = 616.26 / (616.26 + 575.38) = 0.5172
Weight Cost Debt = 100% - 0.5172 = 0.4828
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 = -0.7485
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -0.7485 * 5.94 + 0 = -0.017
WACC = (721.18 / 575.38) * (100% - 0.5172) * (1 - 0.21) + -0.017 + 0.5172 = 98.5
Terminal Value = Discount (2252.04 * (1 + 0.6012) / (98.5 - 0.6012)) = 304.89
Company Value = ∑ (2252.04 / (1 + 98.5) ^ 5) = 587.82
Price = (Terminal Value + Company Value) / Count shares = (304.89 + 587.82) / 1814100000 = 492.1

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 FCF(5) * (1 + FCF Yield) / (WACC - FCF Yield)
Company Value = ∑ (Discount FCF / (1 + WACC) ^ 5)
Discount FCF(5) = 471.04
FCF Yield = 0.2784
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 = 721.18
Debt = 575.38
Market Cap = 616.26
Weight Debt = Market Cap / (Market Cap + Debt) = 616.26 / (616.26 + 575.38) = 0.5172
Weight Cost Debt = 100% - 0.5172 = 0.4828
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 = -0.7485
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -0.7485 * 5.94 + 0 = -0.017
WACC = (721.18 / 575.38) * (100% - 0.5172) * (1 - 0.21) + -0.017 + 0.5172 = 98.5
Terminal Value = Discount (471.04 * (1 + 0.2784) / (98.5 - 0.2784)) = 27.66
Company Value = ∑ (471.04 / (1 + 98.5) ^ 5) = 221.92
Price = (Terminal Value + Company Value) / Count shares = (27.66 + 221.92) / 1814100000 = 137.58