NYSE: CNK - Cinemark

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 = 2
CAGR EPS = 18.91%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 22.69 + (22.69 * 18.91% / 100) = 26.98

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) = 0.7183
Ebitda Yield = 0.1884
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 = 0.144
Debt = 1.59
Market Cap = 2.18
Weight Debt = Market Cap / (Market Cap + Debt) = 2.18 / (2.18 + 1.59) = 0.5789
Weight Cost Debt = 100% - 0.5789 = 0.4211
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 = 0.9174
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0.9174 * 5.94 + 0 = 0.0845
WACC = (0.144 / 1.59) * (100% - 0.5789) * (1 - 0.21) + 0.0845 + 0.5789 = 7.18
Terminal Value = Discount (0.7183 * (1 + 0.1884) / (7.18 - 0.1884)) = 5.18
Company Value = ∑ (0.7183 / (1 + 7.18) ^ 5) = 2.09
Price = (Terminal Value + Company Value) / Count shares = (5.18 + 2.09) / 154900000 = 46.91

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) = 1.21
FCF Yield = 0.2058
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 = 0.144
Debt = 1.59
Market Cap = 2.18
Weight Debt = Market Cap / (Market Cap + Debt) = 2.18 / (2.18 + 1.59) = 0.5789
Weight Cost Debt = 100% - 0.5789 = 0.4211
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 = 0.9174
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 0.9174 * 5.94 + 0 = 0.0845
WACC = (0.144 / 1.59) * (100% - 0.5789) * (1 - 0.21) + 0.0845 + 0.5789 = 7.18
Terminal Value = Discount (1.21 * (1 + 0.2058) / (7.18 - 0.2058)) = 7.67
Company Value = ∑ (1.21 / (1 + 7.18) ^ 5) = 3.41
Price = (Terminal Value + Company Value) / Count shares = (7.67 + 3.41) / 154900000 = 71.53