NYSE: ONTO - Onto Innovation 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 = 2.46
CAGR EPS = 107.61%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 2.46 * (1 + 107.61%) / (0.0433 * 2) = 58.89

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) = 2
Ebitda Yield = 0.612
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 = 0.005
Debt = 0.0195
Market Cap = 5.42
Weight Debt = Market Cap / (Market Cap + Debt) = 5.42 / (5.42 + 0.0195) = 0.9964
Weight Cost Debt = 100% - 0.9964 = 0.0036
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) = 2.82
β = 4.2
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 4.2 * 5.94 + 0 = 0.278
WACC = (0.005 / 0.0195) * (100% - 0.9964) * (1 - 0.21) + 0.278 + 0.9964 = 20.31
Terminal Value = Discount (2 * (1 + 0.612) / (20.31 - 0.612)) = 3.12
Company Value = ∑ (2 / (1 + 20.31) ^ 5) = 2.4
Price = (Terminal Value + Company Value) / Count shares = (3.12 + 2.4) / 49320000 = 111.89

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) = 1.3
FCF Yield = 0.5407
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 = 0.005
Debt = 0.0195
Market Cap = 5.42
Weight Debt = Market Cap / (Market Cap + Debt) = 5.42 / (5.42 + 0.0195) = 0.9964
Weight Cost Debt = 100% - 0.9964 = 0.0036
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) = 2.82
β = 4.2
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 4.2 * 5.94 + 0 = 0.278
WACC = (0.005 / 0.0195) * (100% - 0.9964) * (1 - 0.21) + 0.278 + 0.9964 = 20.31
Terminal Value = Discount (1.3 * (1 + 0.5407) / (20.31 - 0.5407)) = 2.35
Company Value = ∑ (1.3 / (1 + 20.31) ^ 5) = 1.67
Price = (Terminal Value + Company Value) / Count shares = (2.35 + 1.67) / 49320000 = 81.41