NYSE: SDRL - Seadrill Limited

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 = 4.05
CAGR EPS = 20.71%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 42.12 + (42.12 * 20.71% / 100) = 50.84

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) = 1.48
Ebitda Yield = 0.2448
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 = 0.059
Debt = 0.61
Market Cap = 3.83
Weight Debt = Market Cap / (Market Cap + Debt) = 3.83 / (3.83 + 0.61) = 0.8626
Weight Cost Debt = 100% - 0.8626 = 0.1374
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) = 2.89
β = -0.068
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -0.068 * 5.94 + 0 = 0.0249
WACC = (0.059 / 0.61) * (100% - 0.8626) * (1 - 0.21) + 0.0249 + 0.8626 = 7.6
Terminal Value = Discount (1.48 * (1 + 0.2448) / (7.6 - 0.2448)) = 7.55
Company Value = ∑ (1.48 / (1 + 7.6) ^ 5) = 3.91
Price = (Terminal Value + Company Value) / Count shares = (7.55 + 3.91) / 74000000 = 154.8

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) = 0.4067
FCF Yield = 0.1693
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 = 0.059
Debt = 0.61
Market Cap = 3.83
Weight Debt = Market Cap / (Market Cap + Debt) = 3.83 / (3.83 + 0.61) = 0.8626
Weight Cost Debt = 100% - 0.8626 = 0.1374
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) = 2.89
β = -0.068
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -0.068 * 5.94 + 0 = 0.0249
WACC = (0.059 / 0.61) * (100% - 0.8626) * (1 - 0.21) + 0.0249 + 0.8626 = 7.6
Terminal Value = Discount (0.4067 * (1 + 0.1693) / (7.6 - 0.1693)) = 3.53
Company Value = ∑ (0.4067 / (1 + 7.6) ^ 5) = 1.2
Price = (Terminal Value + Company Value) / Count shares = (3.53 + 1.2) / 74000000 = 63.96