NSE: IWEL - Inox Wind Energy 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 = -77.44
CAGR EPS = 9.16%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 7358.95 + (7358.95 * 9.16% / 100) = 8033.03

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) = 9.49
Ebitda Yield = 0.2539
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 = 2.4
Debt = 20.79
Market Cap = 23.69
Weight Debt = Market Cap / (Market Cap + Debt) = 23.69 / (23.69 + 20.79) = 0.5327
Weight Cost Debt = 100% - 0.5327 = 0.4673
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 = -1.12
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -1.12 * 5.94 + 0 = -0.039
WACC = (2.4 / 20.79) * (100% - 0.5327) * (1 - 0.21) + -0.039 + 0.5327 = 9.05
Terminal Value = Discount (9.49 * (1 + 0.2539) / (9.05 - 0.2539)) = 47.21
Company Value = ∑ (9.49 / (1 + 9.05) ^ 5) = 23.72
Price = (Terminal Value + Company Value) / Count shares = (47.21 + 23.72) / 11220000 = 6321.18

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) = 1.82
FCF Yield = -1.73
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 = 2.4
Debt = 20.79
Market Cap = 23.69
Weight Debt = Market Cap / (Market Cap + Debt) = 23.69 / (23.69 + 20.79) = 0.5327
Weight Cost Debt = 100% - 0.5327 = 0.4673
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 = -1.12
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -1.12 * 5.94 + 0 = -0.039
WACC = (2.4 / 20.79) * (100% - 0.5327) * (1 - 0.21) + -0.039 + 0.5327 = 9.05
Terminal Value = Discount (1.82 * (1 + -1.73) / (9.05 - -1.73)) = -0.4712
Company Value = ∑ (1.82 / (1 + 9.05) ^ 5) = 4.09
Price = (Terminal Value + Company Value) / Count shares = (-0.4712 + 4.09) / 11220000 = 322.33