NYSE: MZDAY - Mazda Motor Corporation

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 = 329.38
CAGR EPS = 76.44%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 4.56 + (4.56 * 76.44% / 100) = 8.05

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) = 1054.06
Ebitda Yield = 0.2023
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 = 7.84
Debt = 575.79
Market Cap = 6
Weight Debt = Market Cap / (Market Cap + Debt) = 6 / (6 + 575.79) = 0.0103
Weight Cost Debt = 100% - 0.0103 = 0.9897
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) = 3
β = -1.63
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -1.63 * 5.94 + 0 = -0.0667
WACC = (7.84 / 575.79) * (100% - 0.0103) * (1 - 0.21) + -0.0667 + 0.0103 = 1.07
Terminal Value = Discount (1054.06 * (1 + 0.2023) / (1.07 - 0.2023)) = 6270.67
Company Value = ∑ (1054.06 / (1 + 1.07) ^ 5) = 3637.98
Price = (Terminal Value + Company Value) / Count shares = (6270.67 + 3637.98) / 630570000 = 15713.79

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) = 1234.35
FCF Yield = 0.3238
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 = 7.84
Debt = 575.79
Market Cap = 6
Weight Debt = Market Cap / (Market Cap + Debt) = 6 / (6 + 575.79) = 0.0103
Weight Cost Debt = 100% - 0.0103 = 0.9897
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) = 3
β = -1.63
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -1.63 * 5.94 + 0 = -0.0667
WACC = (7.84 / 575.79) * (100% - 0.0103) * (1 - 0.21) + -0.0667 + 0.0103 = 1.07
Terminal Value = Discount (1234.35 * (1 + 0.3238) / (1.07 - 0.3238)) = 4948.38
Company Value = ∑ (1234.35 / (1 + 1.07) ^ 5) = 3664.25
Price = (Terminal Value + Company Value) / Count shares = (4948.38 + 3664.25) / 630570000 = 13658.48