NYSE: SC - Santander Consumer USA Holdings Inc.

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 = 10.87
CAGR EPS = 33.74%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 41.6 + (41.6 * 33.74% / 100) = 55.64

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) = 6.75
Ebitda Yield = 0.0786
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 = 0.7095
Debt = 38.43
Market Cap = 12.73
Weight Debt = Market Cap / (Market Cap + Debt) = 12.73 / (12.73 + 38.43) = 0.2488
Weight Cost Debt = 100% - 0.2488 = 0.7512
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) = 2.6
β = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 0 * 5.94 + 0 = 0.026
WACC = (0.7095 / 38.43) * (100% - 0.2488) * (1 - 0.21) + 0.026 + 0.2488 = 1.46
Terminal Value = Discount (6.75 * (1 + 0.0786) / (1.46 - 0.0786)) = 105.82
Company Value = ∑ (6.75 / (1 + 1.46) ^ 5) = 27.87
Price = (Terminal Value + Company Value) / Count shares = (105.82 + 27.87) / 317000000 = 421.76

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) = -6.06
FCF Yield = 0.1612
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 = 0.7095
Debt = 38.43
Market Cap = 12.73
Weight Debt = Market Cap / (Market Cap + Debt) = 12.73 / (12.73 + 38.43) = 0.2488
Weight Cost Debt = 100% - 0.2488 = 0.7512
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) = 2.6
β = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 0 * 5.94 + 0 = 0.026
WACC = (0.7095 / 38.43) * (100% - 0.2488) * (1 - 0.21) + 0.026 + 0.2488 = 1.46
Terminal Value = Discount (-6.06 * (1 + 0.1612) / (1.46 - 0.1612)) = -44.67
Company Value = ∑ (-6.06 / (1 + 1.46) ^ 5) = -21.92
Price = (Terminal Value + Company Value) / Count shares = (-44.67 + -21.92) / 317000000 = -210.07