NYSE: COF - Capital One Financial

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 = 12.75
CAGR EPS = 1.56%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 12.75 * (1 + 1.56%) / (0.0433 * 2) = 149.48

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 = 2.4
g = -579.49
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 = 0.7574
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0.7574 * 5.94 + 0 = 0.0732
Price = (2.4 * (1 + -579.49)) / (0.0732 - -579.49) = -2.4

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) = 7.47
Ebitda Yield = -0.0424
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 = 3.21
Debt = 49.86
Market Cap = 40.07
Weight Debt = Market Cap / (Market Cap + Debt) = 40.07 / (40.07 + 49.86) = 0.4456
Weight Cost Debt = 100% - 0.4456 = 0.5544
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 = 0.7574
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0.7574 * 5.94 + 0 = 0.0732
WACC = (3.21 / 49.86) * (100% - 0.4456) * (1 - 0.21) + 0.0732 + 0.4456 = 5.09
Terminal Value = Discount (7.47 * (1 + -0.0424) / (5.09 - -0.0424)) = 59.78
Company Value = ∑ (7.47 / (1 + 5.09) ^ 5) = 35.38
Price = (Terminal Value + Company Value) / Count shares = (59.78 + 35.38) / 383400000 = 248.19

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) = 23.4
FCF Yield = 0.0359
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 = 3.21
Debt = 49.86
Market Cap = 40.07
Weight Debt = Market Cap / (Market Cap + Debt) = 40.07 / (40.07 + 49.86) = 0.4456
Weight Cost Debt = 100% - 0.4456 = 0.5544
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 = 0.7574
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 0.7574 * 5.94 + 0 = 0.0732
WACC = (3.21 / 49.86) * (100% - 0.4456) * (1 - 0.21) + 0.0732 + 0.4456 = 5.09
Terminal Value = Discount (23.4 * (1 + 0.0359) / (5.09 - 0.0359)) = 1256.42
Company Value = ∑ (23.4 / (1 + 5.09) ^ 5) = 93.94
Price = (Terminal Value + Company Value) / Count shares = (1256.42 + 93.94) / 383400000 = 3522.05