NYSE: NWL - Newell Brands

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 = -0.5199
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 8.65 + (8.65 * 8.66% / 100) = 9.4

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 = 0.35
g = -0.7191
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 = -1.28
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -1.28 * 5.94 + 0 = -0.0458
Price = (0.35 * (1 + -0.7191)) / (-0.0458 - -0.7191) = 0.146

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) = 0.0079
Ebitda Yield = -0.3485
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 = 0.295
Debt = 4.9
Market Cap = 4.37
Weight Debt = Market Cap / (Market Cap + Debt) = 4.37 / (4.37 + 4.9) = 0.4712
Weight Cost Debt = 100% - 0.4712 = 0.5288
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 = -1.28
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -1.28 * 5.94 + 0 = -0.0458
WACC = (0.295 / 4.9) * (100% - 0.4712) * (1 - 0.21) + -0.0458 + 0.4712 = 4.71
Terminal Value = Discount (0.0079 * (1 + -0.3485) / (4.71 - -0.3485)) = 0.0103
Company Value = ∑ (0.0079 / (1 + 4.71) ^ 5) = 0.1001
Price = (Terminal Value + Company Value) / Count shares = (0.0103 + 0.1001) / 415500000 = 0.2656

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) = 0.069
FCF Yield = -0.2187
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 = 0.295
Debt = 4.9
Market Cap = 4.37
Weight Debt = Market Cap / (Market Cap + Debt) = 4.37 / (4.37 + 4.9) = 0.4712
Weight Cost Debt = 100% - 0.4712 = 0.5288
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 = -1.28
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -1.28 * 5.94 + 0 = -0.0458
WACC = (0.295 / 4.9) * (100% - 0.4712) * (1 - 0.21) + -0.0458 + 0.4712 = 4.71
Terminal Value = Discount (0.069 * (1 + -0.2187) / (4.71 - -0.2187)) = 0.1612
Company Value = ∑ (0.069 / (1 + 4.71) ^ 5) = 0.5355
Price = (Terminal Value + Company Value) / Count shares = (0.1612 + 0.5355) / 415500000 = 1.68