NYSE: NGS - Natural Gas Services Group, 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 = 0.3833
CAGR EPS = 18.75%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.3833 * (1 + 18.75%) / (0.0433 * 2) = 5.26

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) = 0.1196
Ebitda Yield = 0.2628
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 = 0.0041
Debt = 0.1644
Market Cap = 0.1363
Weight Debt = Market Cap / (Market Cap + Debt) = 0.1363 / (0.1363 + 0.1644) = 0.4533
Weight Cost Debt = 100% - 0.4533 = 0.5467
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 = 6.52
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 6.52 * 5.94 + 0 = 0.4173
WACC = (0.0041 / 0.1644) * (100% - 0.4533) * (1 - 0.21) + 0.4173 + 0.4533 = 2.14
Terminal Value = Discount (0.1196 * (1 + 0.2628) / (2.14 - 0.2628)) = 0.5629
Company Value = ∑ (0.1196 / (1 + 2.14) ^ 5) = 0.3681
Price = (Terminal Value + Company Value) / Count shares = (0.5629 + 0.3681) / 12380000 = 75.2

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) = -0.3624
FCF Yield = 0.2167
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 = 0.0041
Debt = 0.1644
Market Cap = 0.1363
Weight Debt = Market Cap / (Market Cap + Debt) = 0.1363 / (0.1363 + 0.1644) = 0.4533
Weight Cost Debt = 100% - 0.4533 = 0.5467
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 = 6.52
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 6.52 * 5.94 + 0 = 0.4173
WACC = (0.0041 / 0.1644) * (100% - 0.4533) * (1 - 0.21) + 0.4173 + 0.4533 = 2.14
Terminal Value = Discount (-0.3624 * (1 + 0.2167) / (2.14 - 0.2167)) = -2.03
Company Value = ∑ (-0.3624 / (1 + 2.14) ^ 5) = -1.18
Price = (Terminal Value + Company Value) / Count shares = (-2.03 + -1.18) / 12380000 = -259.68