NSE: PANAMAPET - Panama Petrochem 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 = 32.26
CAGR EPS = 46.63%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 350.9 + (350.9 * 46.63% / 100) = 514.51

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 = 6
g = 0.665
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 = 0.1998
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0.1998 * 5.94 + 0 = 0.0401
Price = (6 * (1 + 0.665)) / (0.0401 - 0.665) = 15.99

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) = 9.09
Ebitda Yield = 0.2764
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 = 0.1796
Debt = 0.2601
Market Cap = 17.44
Weight Debt = Market Cap / (Market Cap + Debt) = 17.44 / (17.44 + 0.2601) = 0.9853
Weight Cost Debt = 100% - 0.9853 = 0.0147
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 = 0.1998
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0.1998 * 5.94 + 0 = 0.0401
WACC = (0.1796 / 0.2601) * (100% - 0.9853) * (1 - 0.21) + 0.0401 + 0.9853 = 54.05
Terminal Value = Discount (9.09 * (1 + 0.2764) / (54.05 - 0.2764)) = 5.06
Company Value = ∑ (9.09 / (1 + 54.05) ^ 5) = 7.9
Price = (Terminal Value + Company Value) / Count shares = (5.06 + 7.9) / 60490000 = 214.3

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) = 0.0225
FCF Yield = -1.49
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 = 0.1796
Debt = 0.2601
Market Cap = 17.44
Weight Debt = Market Cap / (Market Cap + Debt) = 17.44 / (17.44 + 0.2601) = 0.9853
Weight Cost Debt = 100% - 0.9853 = 0.0147
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 = 0.1998
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0.1998 * 5.94 + 0 = 0.0401
WACC = (0.1796 / 0.2601) * (100% - 0.9853) * (1 - 0.21) + 0.0401 + 0.9853 = 54.05
Terminal Value = Discount (0.0225 * (1 + -1.49) / (54.05 - -1.49)) = -0.000627
Company Value = ∑ (0.0225 / (1 + 54.05) ^ 5) = 0.1879
Price = (Terminal Value + Company Value) / Count shares = (-0.000627 + 0.1879) / 60490000 = 3.1