NYSE: ABG - Asbury Automotive Group, Inc.

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 = 28.69
CAGR EPS = 24.61%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 240.59 + (240.59 * 24.61% / 100) = 299.8

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) = 2.37
Ebitda Yield = 0.1821
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 = 0.1657
Debt = 4.91
Market Cap = 4.55
Weight Debt = Market Cap / (Market Cap + Debt) = 4.55 / (4.55 + 4.91) = 0.4811
Weight Cost Debt = 100% - 0.4811 = 0.5189
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 = 1.01
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 1.01 * 5.94 + 0 = 0.0876
WACC = (0.1657 / 4.91) * (100% - 0.4811) * (1 - 0.21) + 0.0876 + 0.4811 = 2.7
Terminal Value = Discount (2.37 * (1 + 0.1821) / (2.7 - 0.1821)) = 15.81
Company Value = ∑ (2.37 / (1 + 2.7) ^ 5) = 7.99
Price = (Terminal Value + Company Value) / Count shares = (15.81 + 7.99) / 21000000 = 1133.11

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) = 0.1144
FCF Yield = -0.0769
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 = 0.1657
Debt = 4.91
Market Cap = 4.55
Weight Debt = Market Cap / (Market Cap + Debt) = 4.55 / (4.55 + 4.91) = 0.4811
Weight Cost Debt = 100% - 0.4811 = 0.5189
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 = 1.01
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 1.01 * 5.94 + 0 = 0.0876
WACC = (0.1657 / 4.91) * (100% - 0.4811) * (1 - 0.21) + 0.0876 + 0.4811 = 2.7
Terminal Value = Discount (0.1144 * (1 + -0.0769) / (2.7 - -0.0769)) = 0.8897
Company Value = ∑ (0.1144 / (1 + 2.7) ^ 5) = 0.6268
Price = (Terminal Value + Company Value) / Count shares = (0.8897 + 0.6268) / 21000000 = 72.21