NYSE: ELME - Elme Communities

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 = -0.6038
CAGR EPS = -166.12%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0 + (0 * -166.12% / 100) = 4.61

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 = 0.9
g = -0.1544
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) = 2.75
β = -1.46
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -1.46 * 5.94 + 0 = -0.0591
Price = (0.9 * (1 + -0.1544)) / (-0.0591 - -0.1544) = 7.98

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) = 0.0321
Ebitda Yield = -0.1352
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 = 0.0284
Debt = 0.6793
Market Cap = 1.44
Weight Debt = Market Cap / (Market Cap + Debt) = 1.44 / (1.44 + 0.6793) = 0.6795
Weight Cost Debt = 100% - 0.6795 = 0.3205
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) = 2.75
β = -1.46
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -1.46 * 5.94 + 0 = -0.0591
WACC = (0.0284 / 0.6793) * (100% - 0.6795) * (1 - 0.21) + -0.0591 + 0.6795 = 3.24
Terminal Value = Discount (0.0321 * (1 + -0.1352) / (3.24 - -0.1352)) = 0.1414
Company Value = ∑ (0.0321 / (1 + 3.24) ^ 5) = 0.2013
Price = (Terminal Value + Company Value) / Count shares = (0.1414 + 0.2013) / 87740000 = 3.91

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) = 0.0601
FCF Yield = -0.0662
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 = 0.0284
Debt = 0.6793
Market Cap = 1.44
Weight Debt = Market Cap / (Market Cap + Debt) = 1.44 / (1.44 + 0.6793) = 0.6795
Weight Cost Debt = 100% - 0.6795 = 0.3205
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) = 2.75
β = -1.46
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -1.46 * 5.94 + 0 = -0.0591
WACC = (0.0284 / 0.6793) * (100% - 0.6795) * (1 - 0.21) + -0.0591 + 0.6795 = 3.24
Terminal Value = Discount (0.0601 * (1 + -0.0662) / (3.24 - -0.0662)) = 0.4853
Company Value = ∑ (0.0601 / (1 + 3.24) ^ 5) = 0.3164
Price = (Terminal Value + Company Value) / Count shares = (0.4853 + 0.3164) / 87740000 = 9.14