NYSE: DRQ - Dril-Quip

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 = 0.0175
CAGR EPS = -18.92%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.0175 * (1 + -18.92%) / (0.0433 * 2) = 0.164

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) = 0.0242
Ebitda Yield = -0.0534
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 = 0.0082
Debt = 0.0178
Market Cap = 0.9603
Weight Debt = Market Cap / (Market Cap + Debt) = 0.9603 / (0.9603 + 0.0178) = 0.9818
Weight Cost Debt = 100% - 0.9818 = 0.0182
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 = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 0 * 5.94 + 0 = 0.0289
WACC = (0.0082 / 0.0178) * (100% - 0.9818) * (1 - 0.21) + 0.0289 + 0.9818 = 36.06
Terminal Value = Discount (0.0242 * (1 + -0.0534) / (36.06 - -0.0534)) = 0.0119
Company Value = ∑ (0.0242 / (1 + 36.06) ^ 5) = 0.061
Price = (Terminal Value + Company Value) / Count shares = (0.0119 + 0.061) / 34470000 = 2.11

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) = 0.0277
FCF Yield = -2.02
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 = 0.0082
Debt = 0.0178
Market Cap = 0.9603
Weight Debt = Market Cap / (Market Cap + Debt) = 0.9603 / (0.9603 + 0.0178) = 0.9818
Weight Cost Debt = 100% - 0.9818 = 0.0182
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 = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 0 * 5.94 + 0 = 0.0289
WACC = (0.0082 / 0.0178) * (100% - 0.9818) * (1 - 0.21) + 0.0289 + 0.9818 = 36.06
Terminal Value = Discount (0.0277 * (1 + -2.02) / (36.06 - -2.02)) = -0.0025
Company Value = ∑ (0.0277 / (1 + 36.06) ^ 5) = 0.0132
Price = (Terminal Value + Company Value) / Count shares = (-0.0025 + 0.0132) / 34470000 = 0.3098