NYSE: GHLD - Guild Holdings Company

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 = -0.6398
CAGR EPS = -248.04%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0 + (0 * -248.04% / 100) = 10.94

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 = 0.5
g = 1.64
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 = -1.96
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -1.96 * 5.94 + 0 = -0.0892
Price = (0.5 * (1 + 1.64)) / (-0.0892 - 1.64) = 0.7638

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) = 0.0518
Ebitda Yield = -0.0271
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 = 0.0664
Debt = 1.84
Market Cap = 0.7492
Weight Debt = Market Cap / (Market Cap + Debt) = 0.7492 / (0.7492 + 1.84) = 0.2897
Weight Cost Debt = 100% - 0.2897 = 0.7103
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 = -1.96
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -1.96 * 5.94 + 0 = -0.0892
WACC = (0.0664 / 1.84) * (100% - 0.2897) * (1 - 0.21) + -0.0892 + 0.2897 = 2.82
Terminal Value = Discount (0.0518 * (1 + -0.0271) / (2.82 - -0.0271)) = 0.7932
Company Value = ∑ (0.0518 / (1 + 2.82) ^ 5) = 0.2527
Price = (Terminal Value + Company Value) / Count shares = (0.7932 + 0.2527) / 60970000 = 17.15

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) = -0.0308
FCF Yield = -0.2052
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 = 0.0664
Debt = 1.84
Market Cap = 0.7492
Weight Debt = Market Cap / (Market Cap + Debt) = 0.7492 / (0.7492 + 1.84) = 0.2897
Weight Cost Debt = 100% - 0.2897 = 0.7103
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 = -1.96
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -1.96 * 5.94 + 0 = -0.0892
WACC = (0.0664 / 1.84) * (100% - 0.2897) * (1 - 0.21) + -0.0892 + 0.2897 = 2.82
Terminal Value = Discount (-0.0308 * (1 + -0.2052) / (2.82 - -0.2052)) = -0.0914
Company Value = ∑ (-0.0308 / (1 + 2.82) ^ 5) = -0.2397
Price = (Terminal Value + Company Value) / Count shares = (-0.0914 + -0.2397) / 60970000 = -5.43