NSE: SONACOMS - Sona BLW Precision Forgings 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 = 8.83
CAGR EPS = 17.93%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 8.83 * (1 + 17.93%) / (0.0458 * 2) = 113.66

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 = 3.06
g = 0.2947
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 = 1.79
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 1.79 * 5.94 + 0 = 0.1337
Price = (3.06 * (1 + 0.2947)) / (0.1337 - 0.2947) = 24.61

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) = 21.22
Ebitda Yield = 0.1826
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 = 0.258
Debt = 4.12
Market Cap = 348.29
Weight Debt = Market Cap / (Market Cap + Debt) = 348.29 / (348.29 + 4.12) = 0.9883
Weight Cost Debt = 100% - 0.9883 = 0.0117
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 = 1.79
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 1.79 * 5.94 + 0 = 0.1337
WACC = (0.258 / 4.12) * (100% - 0.9883) * (1 - 0.21) + 0.1337 + 0.9883 = 5.03
Terminal Value = Discount (21.22 * (1 + 0.1826) / (5.03 - 0.1826)) = 148.38
Company Value = ∑ (21.22 / (1 + 5.03) ^ 5) = 66.41
Price = (Terminal Value + Company Value) / Count shares = (148.38 + 66.41) / 585200000 = 367.03

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 FCF(5) * (1 + FCF Yield) / (WACC - FCF Yield)
Company Value = ∑ (Discount FCF / (1 + WACC) ^ 5)
Discount FCF(5) = 12.58
FCF Yield = 0.275
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 = 0.258
Debt = 4.12
Market Cap = 348.29
Weight Debt = Market Cap / (Market Cap + Debt) = 348.29 / (348.29 + 4.12) = 0.9883
Weight Cost Debt = 100% - 0.9883 = 0.0117
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 = 1.79
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 1.79 * 5.94 + 0 = 0.1337
WACC = (0.258 / 4.12) * (100% - 0.9883) * (1 - 0.21) + 0.1337 + 0.9883 = 5.03
Terminal Value = Discount (12.58 * (1 + 0.275) / (5.03 - 0.275)) = 55.83
Company Value = ∑ (12.58 / (1 + 5.03) ^ 5) = 34.65
Price = (Terminal Value + Company Value) / Count shares = (55.83 + 34.65) / 585200000 = 154.62