NYSE: CHWY - Chewy

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 = 0.0916
CAGR EPS = 16.49%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.0916 * (1 + 16.49%) / (0.0433 * 2) = 1.23

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) = 0.366
Ebitda Yield = 0.1778
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 = 0.0036
Debt = 0.5278
Market Cap = 11.75
Weight Debt = Market Cap / (Market Cap + Debt) = 11.75 / (11.75 + 0.5278) = 0.957
Weight Cost Debt = 100% - 0.957 = 0.043
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 = 2.17
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 2.17 * 5.94 + 0 = 0.157
WACC = (0.0036 / 0.5278) * (100% - 0.957) * (1 - 0.21) + 0.157 + 0.957 = 0.6813
Terminal Value = Discount (0.366 * (1 + 0.1778) / (0.6813 - 0.1778)) = 2.44
Company Value = ∑ (0.366 / (1 + 0.6813) ^ 5) = 1.32
Price = (Terminal Value + Company Value) / Count shares = (2.44 + 1.32) / 432040000 = 8.71

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) = 28.58
FCF Yield = 1.42
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 = 0.0036
Debt = 0.5278
Market Cap = 11.75
Weight Debt = Market Cap / (Market Cap + Debt) = 11.75 / (11.75 + 0.5278) = 0.957
Weight Cost Debt = 100% - 0.957 = 0.043
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 = 2.17
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 2.17 * 5.94 + 0 = 0.157
WACC = (0.0036 / 0.5278) * (100% - 0.957) * (1 - 0.21) + 0.157 + 0.957 = 0.6813
Terminal Value = Discount (28.58 * (1 + 1.42) / (0.6813 - 1.42)) = 47.28
Company Value = ∑ (28.58 / (1 + 0.6813) ^ 5) = 46.69
Price = (Terminal Value + Company Value) / Count shares = (47.28 + 46.69) / 432040000 = 217.52