NSE: STEELXIND - Steel Exchange India 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 = 0.09
CAGR EPS = -36.12%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 0.09 * (1 + -36.12%) / (0.0458 * 2) = 0.6276

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) = 1.03
Ebitda Yield = 0.0139
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 = 0.7787
Debt = 3.82
Market Cap = 16.64
Weight Debt = Market Cap / (Market Cap + Debt) = 16.64 / (16.64 + 3.82) = 0.8131
Weight Cost Debt = 100% - 0.8131 = 0.1869
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 = -0.2178
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -0.2178 * 5.94 + 0 = 0.0146
WACC = (0.7787 / 3.82) * (100% - 0.8131) * (1 - 0.21) + 0.0146 + 0.8131 = 15.96
Terminal Value = Discount (1.03 * (1 + 0.0139) / (15.96 - 0.0139)) = 3.42
Company Value = ∑ (1.03 / (1 + 15.96) ^ 5) = 3.28
Price = (Terminal Value + Company Value) / Count shares = (3.42 + 3.28) / 826340000 = 8.11

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) = 1.08
FCF Yield = -1.91
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 = 0.7787
Debt = 3.82
Market Cap = 16.64
Weight Debt = Market Cap / (Market Cap + Debt) = 16.64 / (16.64 + 3.82) = 0.8131
Weight Cost Debt = 100% - 0.8131 = 0.1869
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 = -0.2178
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -0.2178 * 5.94 + 0 = 0.0146
WACC = (0.7787 / 3.82) * (100% - 0.8131) * (1 - 0.21) + 0.0146 + 0.8131 = 15.96
Terminal Value = Discount (1.08 * (1 + -1.91) / (15.96 - -1.91)) = -0.2272
Company Value = ∑ (1.08 / (1 + 15.96) ^ 5) = 0.9967
Price = (Terminal Value + Company Value) / Count shares = (-0.2272 + 0.9967) / 826340000 = 0.9312