NYSE: ATRI - Atrion

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 = 11.02
CAGR EPS = -10.99%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 11.02 * (1 + -10.99%) / (0.0458 * 2) = 107.11

Price = (DPS * (1 + g)) / (Cost Of Equity - g)
Price - 价格公道
DPS — 当期股息
g — 预期增长率
DPS = 6.6
g = -0.0852
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 = 0.1062
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 0.1062 * 5.94 + 0 = 0.0323
Price = (6.6 * (1 + -0.0852)) / (0.0323 - -0.0852) = 51.4

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) = 0.0283
Ebitda Yield = -0.0556
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 = 0.000149
Debt = 0.00024
Market Cap = 0.8573
Weight Debt = Market Cap / (Market Cap + Debt) = 0.8573 / (0.8573 + 0.00024) = 0.9997
Weight Cost Debt = 100% - 0.9997 = 0.00029999999999997
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 = 0.1062
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 0.1062 * 5.94 + 0 = 0.0323
WACC = (0.000149 / 0.00024) * (100% - 0.9997) * (1 - 0.21) + 0.0323 + 0.9997 = 48.59
Terminal Value = Discount (0.0283 * (1 + -0.0556) / (48.59 - -0.0556)) = 0.0068
Company Value = ∑ (0.0283 / (1 + 48.59) ^ 5) = 0.0589
Price = (Terminal Value + Company Value) / Count shares = (0.0068 + 0.0589) / 1761000 = 37.31

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
FCF Yield = -1.31
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 = 0.000149
Debt = 0.00024
Market Cap = 0.8573
Weight Debt = Market Cap / (Market Cap + Debt) = 0.8573 / (0.8573 + 0.00024) = 0.9997
Weight Cost Debt = 100% - 0.9997 = 0.00029999999999997
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 = 0.1062
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 0.1062 * 5.94 + 0 = 0.0323
WACC = (0.000149 / 0.00024) * (100% - 0.9997) * (1 - 0.21) + 0.0323 + 0.9997 = 48.59
Terminal Value = Discount (0 * (1 + -1.31) / (48.59 - -1.31)) = 0
Company Value = ∑ (0 / (1 + 48.59) ^ 5) = 0.000399
Price = (Terminal Value + Company Value) / Count shares = (0 + 0.000399) / 1761000 = 0.2266