NSE: SUVENPHAR - Suven Pharmaceuticals 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 = 11.8
CAGR EPS = -1.07%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 11.8 * (1 + -1.07%) / (0.0433 * 2) = 134.75

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) = 4.89
Ebitda Yield = 0.0091
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 = 0.0745
Debt = 0.65
Market Cap = 123.67
Weight Debt = Market Cap / (Market Cap + Debt) = 123.67 / (123.67 + 0.65) = 0.9948
Weight Cost Debt = 100% - 0.9948 = 0.0052
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 = 1.16
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.16 * 5.94 + 0 = 0.0973
WACC = (0.0745 / 0.65) * (100% - 0.9948) * (1 - 0.21) + 0.0973 + 0.9948 = 9.06
Terminal Value = Discount (4.89 * (1 + 0.0091) / (9.06 - 0.0091)) = 39.25
Company Value = ∑ (4.89 / (1 + 9.06) ^ 5) = 18.64
Price = (Terminal Value + Company Value) / Count shares = (39.25 + 18.64) / 254560000 = 227.41

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) = 2.99
FCF Yield = -0.005
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 = 0.0745
Debt = 0.65
Market Cap = 123.67
Weight Debt = Market Cap / (Market Cap + Debt) = 123.67 / (123.67 + 0.65) = 0.9948
Weight Cost Debt = 100% - 0.9948 = 0.0052
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 = 1.16
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 1.16 * 5.94 + 0 = 0.0973
WACC = (0.0745 / 0.65) * (100% - 0.9948) * (1 - 0.21) + 0.0973 + 0.9948 = 9.06
Terminal Value = Discount (2.99 * (1 + -0.005) / (9.06 - -0.005)) = 20.16
Company Value = ∑ (2.99 / (1 + 9.06) ^ 5) = 11.74
Price = (Terminal Value + Company Value) / Count shares = (20.16 + 11.74) / 254560000 = 125.3