NYSE: CBRL - Cracker Barrel Old Country Store

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 = 1.83
CAGR EPS = 27.33%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 1.83 * (1 + 27.33%) / (0.0433 * 2) = 26.96

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 = 3.35
g = 0.5748
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) = 2.89
β = 7.44
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 7.44 * 5.94 + 0 = 0.4711
Price = (3.35 * (1 + 0.5748)) / (0.4711 - 0.5748) = 50.86

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) = 0.2726
Ebitda Yield = 0.1168
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 = 0.0209
Debt = 1.2
Market Cap = 1.88
Weight Debt = Market Cap / (Market Cap + Debt) = 1.88 / (1.88 + 1.2) = 0.6099
Weight Cost Debt = 100% - 0.6099 = 0.3901
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) = 2.89
β = 7.44
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 7.44 * 5.94 + 0 = 0.4711
WACC = (0.0209 / 1.2) * (100% - 0.6099) * (1 - 0.21) + 0.4711 + 0.6099 = 1.65
Terminal Value = Discount (0.2726 * (1 + 0.1168) / (1.65 - 0.1168)) = 2.8
Company Value = ∑ (0.2726 / (1 + 1.65) ^ 5) = 1.05
Price = (Terminal Value + Company Value) / Count shares = (2.8 + 1.05) / 22320000 = 172.29

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) = 0.08
FCF Yield = 0.1449
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 = 0.0209
Debt = 1.2
Market Cap = 1.88
Weight Debt = Market Cap / (Market Cap + Debt) = 1.88 / (1.88 + 1.2) = 0.6099
Weight Cost Debt = 100% - 0.6099 = 0.3901
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) = 2.89
β = 7.44
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 7.44 * 5.94 + 0 = 0.4711
WACC = (0.0209 / 1.2) * (100% - 0.6099) * (1 - 0.21) + 0.4711 + 0.6099 = 1.65
Terminal Value = Discount (0.08 * (1 + 0.1449) / (1.65 - 0.1449)) = 0.6577
Company Value = ∑ (0.08 / (1 + 1.65) ^ 5) = 0.2947
Price = (Terminal Value + Company Value) / Count shares = (0.6577 + 0.2947) / 22320000 = 42.67