NYSE: AMN - AMN Healthcare Services

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 = 5.36
CAGR EPS = 17.41%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 56.38 + (56.38 * 17.41% / 100) = 66.19

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) = 0.9207
Ebitda Yield = 0.1302
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 = 0.0474
Debt = 1.31
Market Cap = 3.39
Weight Debt = Market Cap / (Market Cap + Debt) = 3.39 / (3.39 + 1.31) = 0.7209
Weight Cost Debt = 100% - 0.7209 = 0.2791
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) = 2.6
β = -2.9
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + -2.9 * 5.94 + 0 = -0.1464
WACC = (0.0474 / 1.31) * (100% - 0.7209) * (1 - 0.21) + -0.1464 + 0.7209 = 2.73
Terminal Value = Discount (0.9207 * (1 + 0.1302) / (2.73 - 0.1302)) = 8.84
Company Value = ∑ (0.9207 / (1 + 2.73) ^ 5) = 3.35
Price = (Terminal Value + Company Value) / Count shares = (8.84 + 3.35) / 39340000 = 310.01

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) = 0.3537
FCF Yield = 0.058
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 = 0.0474
Debt = 1.31
Market Cap = 3.39
Weight Debt = Market Cap / (Market Cap + Debt) = 3.39 / (3.39 + 1.31) = 0.7209
Weight Cost Debt = 100% - 0.7209 = 0.2791
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) = 2.6
β = -2.9
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + -2.9 * 5.94 + 0 = -0.1464
WACC = (0.0474 / 1.31) * (100% - 0.7209) * (1 - 0.21) + -0.1464 + 0.7209 = 2.73
Terminal Value = Discount (0.3537 * (1 + 0.058) / (2.73 - 0.058)) = 10.65
Company Value = ∑ (0.3537 / (1 + 2.73) ^ 5) = 1.46
Price = (Terminal Value + Company Value) / Count shares = (10.65 + 1.46) / 39340000 = 307.74