NSE: COFORGE - Coforge 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 = 129.59
CAGR EPS = 12.63%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 129.59 * (1 + 12.63%) / (0.0433 * 2) = 1685.42

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 = 76
g = 0.1788
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 = 1.4
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.4 * 5.94 + 0 = 0.1116
Price = (76 * (1 + 0.1788)) / (0.1116 - 0.1788) = 1332.96

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 Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = 24.37
Ebitda Yield = 0.1077
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 = 1.26
Debt = 7.26
Market Cap = 288.65
Weight Debt = Market Cap / (Market Cap + Debt) = 288.65 / (288.65 + 7.26) = 0.9755
Weight Cost Debt = 100% - 0.9755 = 0.0245
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 = 1.4
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.4 * 5.94 + 0 = 0.1116
WACC = (1.26 / 7.26) * (100% - 0.9755) * (1 - 0.21) + 0.1116 + 0.9755 = 13.64
Terminal Value = Discount (24.37 * (1 + 0.1077) / (13.64 - 0.1077)) = 495.48
Company Value = ∑ (24.37 / (1 + 13.64) ^ 5) = 67.7
Price = (Terminal Value + Company Value) / Count shares = (495.48 + 67.7) / 62350000 = 9032.6

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) = 14.96
FCF Yield = 0.1859
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 = 1.26
Debt = 7.26
Market Cap = 288.65
Weight Debt = Market Cap / (Market Cap + Debt) = 288.65 / (288.65 + 7.26) = 0.9755
Weight Cost Debt = 100% - 0.9755 = 0.0245
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 = 1.4
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.4 * 5.94 + 0 = 0.1116
WACC = (1.26 / 7.26) * (100% - 0.9755) * (1 - 0.21) + 0.1116 + 0.9755 = 13.64
Terminal Value = Discount (14.96 * (1 + 0.1859) / (13.64 - 0.1859)) = 189.2
Company Value = ∑ (14.96 / (1 + 13.64) ^ 5) = 36.31
Price = (Terminal Value + Company Value) / Count shares = (189.2 + 36.31) / 62350000 = 3616.86