NYSE: BLL - Ball Corporation

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 = 3.41
CAGR EPS = 21.73%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 3.41 * (1 + 21.73%) / (0.0433 * 2) = 47.93

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 = 0.8
g = 0.079
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) = 2.82
β = -0.0109
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + -0.0109 * 5.94 + 0 = 0.0276
Price = (0.8 * (1 + 0.079)) / (0.0276 - 0.079) = 16.78

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) = 2.64
Ebitda Yield = 0.0454
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 = 0.272
Debt = 9
Market Cap = 24.6
Weight Debt = Market Cap / (Market Cap + Debt) = 24.6 / (24.6 + 9) = 0.7321
Weight Cost Debt = 100% - 0.7321 = 0.2679
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) = 2.82
β = -0.0109
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + -0.0109 * 5.94 + 0 = 0.0276
WACC = (0.272 / 9) * (100% - 0.7321) * (1 - 0.21) + 0.0276 + 0.7321 = 2.39
Terminal Value = Discount (2.64 * (1 + 0.0454) / (2.39 - 0.0454)) = 114.08
Company Value = ∑ (2.64 / (1 + 2.39) ^ 5) = 11.24
Price = (Terminal Value + Company Value) / Count shares = (114.08 + 11.24) / 332000000 = 377.48

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) = 0.726
FCF Yield = -0.0236
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 = 0.272
Debt = 9
Market Cap = 24.6
Weight Debt = Market Cap / (Market Cap + Debt) = 24.6 / (24.6 + 9) = 0.7321
Weight Cost Debt = 100% - 0.7321 = 0.2679
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) = 2.82
β = -0.0109
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + -0.0109 * 5.94 + 0 = 0.0276
WACC = (0.272 / 9) * (100% - 0.7321) * (1 - 0.21) + 0.0276 + 0.7321 = 2.39
Terminal Value = Discount (0.726 * (1 + -0.0236) / (2.39 - -0.0236)) = 13.27
Company Value = ∑ (0.726 / (1 + 2.39) ^ 5) = 3.56
Price = (Terminal Value + Company Value) / Count shares = (13.27 + 3.56) / 332000000 = 50.68