NYSE: BTU - Peabody Energy Corporation

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 = 4.92
CAGR EPS = 36.3%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 23.26 + (23.26 * 36.3% / 100) = 31.7

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 = 0.3
g = 1.03
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 = -1.85
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -1.85 * 5.94 + 0 = -0.0822
Price = (0.3 * (1 + 1.03)) / (-0.0822 - 1.03) = 0.5485

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) = 2.67
Ebitda Yield = 0.1212
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 = 0.0598
Debt = 0.3515
Market Cap = 2.9
Weight Debt = Market Cap / (Market Cap + Debt) = 2.9 / (2.9 + 0.3515) = 0.8919
Weight Cost Debt = 100% - 0.8919 = 0.1081
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 = -1.85
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -1.85 * 5.94 + 0 = -0.0822
WACC = (0.0598 / 0.3515) * (100% - 0.8919) * (1 - 0.21) + -0.0822 + 0.8919 = 13.25
Terminal Value = Discount (2.67 * (1 + 0.1212) / (13.25 - 0.1212)) = 142.81
Company Value = ∑ (2.67 / (1 + 13.25) ^ 5) = 7.31
Price = (Terminal Value + Company Value) / Count shares = (142.81 + 7.31) / 154300000 = 972.87

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) = 1.08
FCF Yield = 0.095
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 = 0.0598
Debt = 0.3515
Market Cap = 2.9
Weight Debt = Market Cap / (Market Cap + Debt) = 2.9 / (2.9 + 0.3515) = 0.8919
Weight Cost Debt = 100% - 0.8919 = 0.1081
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 = -1.85
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -1.85 * 5.94 + 0 = -0.0822
WACC = (0.0598 / 0.3515) * (100% - 0.8919) * (1 - 0.21) + -0.0822 + 0.8919 = 13.25
Terminal Value = Discount (1.08 * (1 + 0.095) / (13.25 - 0.095)) = 16.98
Company Value = ∑ (1.08 / (1 + 13.25) ^ 5) = 3.11
Price = (Terminal Value + Company Value) / Count shares = (16.98 + 3.11) / 154300000 = 130.18