NYSE: BBY - Best Buy

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 = 5.68
CAGR EPS = -0.246%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 5.68 * (1 + -0.246%) / (0.0433 * 2) = 65.42

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 = 3.76
g = -0.0059
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) = 3
β = -1.09
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -1.09 * 5.94 + 0 = -0.0348
Price = (3.76 * (1 + -0.0059)) / (-0.0348 - -0.0059) = 129.35

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) = 2.4
Ebitda Yield = -0.0153
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 = 0.052
Debt = 3.98
Market Cap = 17.15
Weight Debt = Market Cap / (Market Cap + Debt) = 17.15 / (17.15 + 3.98) = 0.8116
Weight Cost Debt = 100% - 0.8116 = 0.1884
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) = 3
β = -1.09
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -1.09 * 5.94 + 0 = -0.0348
WACC = (0.052 / 3.98) * (100% - 0.8116) * (1 - 0.21) + -0.0348 + 0.8116 = 0.995
Terminal Value = Discount (2.4 * (1 + -0.0153) / (0.995 - -0.0153)) = 89.01
Company Value = ∑ (2.4 / (1 + 0.995) ^ 5) = 12.04
Price = (Terminal Value + Company Value) / Count shares = (89.01 + 12.04) / 218500000 = 462.45

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) = 0.3103
FCF Yield = -0.144
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 = 0.052
Debt = 3.98
Market Cap = 17.15
Weight Debt = Market Cap / (Market Cap + Debt) = 17.15 / (17.15 + 3.98) = 0.8116
Weight Cost Debt = 100% - 0.8116 = 0.1884
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) = 3
β = -1.09
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -1.09 * 5.94 + 0 = -0.0348
WACC = (0.052 / 3.98) * (100% - 0.8116) * (1 - 0.21) + -0.0348 + 0.8116 = 0.995
Terminal Value = Discount (0.3103 * (1 + -0.144) / (0.995 - -0.144)) = 1.64
Company Value = ∑ (0.3103 / (1 + 0.995) ^ 5) = 2.11
Price = (Terminal Value + Company Value) / Count shares = (1.64 + 2.11) / 218500000 = 17.18