NSE: IKIO - IKIO Lighting 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 = 863.67
CAGR EPS = 4.02%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 283.78 + (283.78 * 4.02% / 100) = 295.18

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 = 0.0119
g = 0.4162
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) = 2.89
β = 1.38
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 1.38 * 5.94 + 0 = 0.1108
Price = (0.0119 * (1 + 0.4162)) / (0.1108 - 0.4162) = 0.055

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) = 302.86
Ebitda Yield = 0.2298
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 = 12.33
Debt = 75.04
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 75.04) = 0
Weight Cost Debt = 100% - 0 = 1
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) = 2.89
β = 1.38
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 1.38 * 5.94 + 0 = 0.1108
WACC = (12.33 / 75.04) * (100% - 0) * (1 - 0.21) + 0.1108 + 0 = 12.98
Terminal Value = Discount (302.86 * (1 + 0.2298) / (12.98 - 0.2298)) = 2023.3
Company Value = ∑ (302.86 / (1 + 12.98) ^ 5) = 699.26
Price = (Terminal Value + Company Value) / Count shares = (2023.3 + 699.26) / 65000000 = 41885.48

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) = 56.34
FCF Yield = -1.9
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 = 12.33
Debt = 75.04
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 75.04) = 0
Weight Cost Debt = 100% - 0 = 1
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) = 2.89
β = 1.38
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 1.38 * 5.94 + 0 = 0.1108
WACC = (12.33 / 75.04) * (100% - 0) * (1 - 0.21) + 0.1108 + 0 = 12.98
Terminal Value = Discount (56.34 * (1 + -1.9) / (12.98 - -1.9)) = -13.58
Company Value = ∑ (56.34 / (1 + 12.98) ^ 5) = 55.67
Price = (Terminal Value + Company Value) / Count shares = (-13.58 + 55.67) / 65000000 = 647.49