NYSE: JELD - JELD-WEN Holding, 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 = 0.5438
CAGR EPS = 3.24%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.5438 * (1 + 3.24%) / (0.0433 * 2) = 6.48

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) = 0.4012
Ebitda Yield = 0.058
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 = 0.0723
Debt = 1.23
Market Cap = 1.26
Weight Debt = Market Cap / (Market Cap + Debt) = 1.26 / (1.26 + 1.23) = 0.5068
Weight Cost Debt = 100% - 0.5068 = 0.4932
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 = -4.54
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -4.54 * 5.94 + 0 = -0.2407
WACC = (0.0723 / 1.23) * (100% - 0.5068) * (1 - 0.21) + -0.2407 + 0.5068 = 4.51
Terminal Value = Discount (0.4012 * (1 + 0.058) / (4.51 - 0.058)) = 26.53
Company Value = ∑ (0.4012 / (1 + 4.51) ^ 5) = 1.57
Price = (Terminal Value + Company Value) / Count shares = (26.53 + 1.57) / 85870000 = 327.22

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) = 0.3085
FCF Yield = 0.0566
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 = 0.0723
Debt = 1.23
Market Cap = 1.26
Weight Debt = Market Cap / (Market Cap + Debt) = 1.26 / (1.26 + 1.23) = 0.5068
Weight Cost Debt = 100% - 0.5068 = 0.4932
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 = -4.54
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -4.54 * 5.94 + 0 = -0.2407
WACC = (0.0723 / 1.23) * (100% - 0.5068) * (1 - 0.21) + -0.2407 + 0.5068 = 4.51
Terminal Value = Discount (0.3085 * (1 + 0.0566) / (4.51 - 0.0566)) = 22.83
Company Value = ∑ (0.3085 / (1 + 4.51) ^ 5) = 1.21
Price = (Terminal Value + Company Value) / Count shares = (22.83 + 1.21) / 85870000 = 279.99