NYSE: GIB - CGI 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 = 6.86
CAGR EPS = 7.77%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 6.86 * (1 + 7.77%) / (0.0433 * 2) = 85.4

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) = 3.39
Ebitda Yield = 0.0386
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 = 0.0878
Debt = 3.3
Market Cap = 24.29
Weight Debt = Market Cap / (Market Cap + Debt) = 24.29 / (24.29 + 3.3) = 0.8804
Weight Cost Debt = 100% - 0.8804 = 0.1196
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 = 0.0104
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 0.0104 * 5.94 + 0 = 0.0281
WACC = (0.0878 / 3.3) * (100% - 0.8804) * (1 - 0.21) + 0.0281 + 0.8804 = 2.11
Terminal Value = Discount (3.39 * (1 + 0.0386) / (2.11 - 0.0386)) = 180.75
Company Value = ∑ (3.39 / (1 + 2.11) ^ 5) = 14.77
Price = (Terminal Value + Company Value) / Count shares = (180.75 + 14.77) / 237700000 = 822.55

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) = 2.26
FCF Yield = 0.0459
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 = 0.0878
Debt = 3.3
Market Cap = 24.29
Weight Debt = Market Cap / (Market Cap + Debt) = 24.29 / (24.29 + 3.3) = 0.8804
Weight Cost Debt = 100% - 0.8804 = 0.1196
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 = 0.0104
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 0.0104 * 5.94 + 0 = 0.0281
WACC = (0.0878 / 3.3) * (100% - 0.8804) * (1 - 0.21) + 0.0281 + 0.8804 = 2.11
Terminal Value = Discount (2.26 * (1 + 0.0459) / (2.11 - 0.0459)) = 85.79
Company Value = ∑ (2.26 / (1 + 2.11) ^ 5) = 9.71
Price = (Terminal Value + Company Value) / Count shares = (85.79 + 9.71) / 237700000 = 401.76