NSE: VARROC - Varroc Engineering 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 = 34.43
CAGR EPS = 184.14%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 533.75 + (533.75 * 184.14% / 100) = 1516.61

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) = 6.68
Ebitda Yield = -0.0252
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 = 1.94
Debt = 12.41
Market Cap = 49.78
Weight Debt = Market Cap / (Market Cap + Debt) = 49.78 / (49.78 + 12.41) = 0.8004
Weight Cost Debt = 100% - 0.8004 = 0.1996
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 = -1.32
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -1.32 * 5.94 + 0 = -0.051
WACC = (1.94 / 12.41) * (100% - 0.8004) * (1 - 0.21) + -0.051 + 0.8004 = 12.2
Terminal Value = Discount (6.68 * (1 + -0.0252) / (12.2 - -0.0252)) = 24.87
Company Value = ∑ (6.68 / (1 + 12.2) ^ 5) = 25.38
Price = (Terminal Value + Company Value) / Count shares = (24.87 + 25.38) / 152790000 = 328.9

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) = 8.67
FCF Yield = 0.3714
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 = 1.94
Debt = 12.41
Market Cap = 49.78
Weight Debt = Market Cap / (Market Cap + Debt) = 49.78 / (49.78 + 12.41) = 0.8004
Weight Cost Debt = 100% - 0.8004 = 0.1996
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 = -1.32
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -1.32 * 5.94 + 0 = -0.051
WACC = (1.94 / 12.41) * (100% - 0.8004) * (1 - 0.21) + -0.051 + 0.8004 = 12.2
Terminal Value = Discount (8.67 * (1 + 0.3714) / (12.2 - 0.3714)) = 26.82
Company Value = ∑ (8.67 / (1 + 12.2) ^ 5) = 16.99
Price = (Terminal Value + Company Value) / Count shares = (26.82 + 16.99) / 152790000 = 286.71