NYSE: DY - Dycom Industries, Inc.

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 = 7.37
CAGR EPS = 49.22%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 7.37 * (1 + 49.22%) / (0.0433 * 2) = 127.02

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) = 0.6027
Ebitda Yield = 0.0624
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 = 0.0526
Debt = 0.885
Market Cap = 2.76
Weight Debt = Market Cap / (Market Cap + Debt) = 2.76 / (2.76 + 0.885) = 0.7572
Weight Cost Debt = 100% - 0.7572 = 0.2428
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 = 3.52
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 3.52 * 5.94 + 0 = 0.237
WACC = (0.0526 / 0.885) * (100% - 0.7572) * (1 - 0.21) + 0.237 + 0.7572 = 4.84
Terminal Value = Discount (0.6027 * (1 + 0.0624) / (4.84 - 0.0624)) = 36.19
Company Value = ∑ (0.6027 / (1 + 4.84) ^ 5) = 2.32
Price = (Terminal Value + Company Value) / Count shares = (36.19 + 2.32) / 29700000 = 1296.58

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) = 0.0895
FCF Yield = 0.1719
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 = 0.0526
Debt = 0.885
Market Cap = 2.76
Weight Debt = Market Cap / (Market Cap + Debt) = 2.76 / (2.76 + 0.885) = 0.7572
Weight Cost Debt = 100% - 0.7572 = 0.2428
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 = 3.52
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 3.52 * 5.94 + 0 = 0.237
WACC = (0.0526 / 0.885) * (100% - 0.7572) * (1 - 0.21) + 0.237 + 0.7572 = 4.84
Terminal Value = Discount (0.0895 * (1 + 0.1719) / (4.84 - 0.1719)) = 0.6703
Company Value = ∑ (0.0895 / (1 + 4.84) ^ 5) = 0.2863
Price = (Terminal Value + Company Value) / Count shares = (0.6703 + 0.2863) / 29700000 = 32.21