NYSE: SMHI - SEACOR Marine 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 = -0.3439
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 8.58 + (8.58 * 8.66% / 100) = 9.32

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) = 0.4812
Ebitda Yield = 0.4089
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 = 0.0369
Debt = 0.3175
Market Cap = 0.3091
Weight Debt = Market Cap / (Market Cap + Debt) = 0.3091 / (0.3091 + 0.3175) = 0.4933
Weight Cost Debt = 100% - 0.4933 = 0.5067
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 = 2.54
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 2.54 * 5.94 + 0 = 0.1811
WACC = (0.0369 / 0.3175) * (100% - 0.4933) * (1 - 0.21) + 0.1811 + 0.4933 = 9.23
Terminal Value = Discount (0.4812 * (1 + 0.4089) / (9.23 - 0.4089)) = 1.38
Company Value = ∑ (0.4812 / (1 + 9.23) ^ 5) = 0.9914
Price = (Terminal Value + Company Value) / Count shares = (1.38 + 0.9914) / 27080000 = 87.47

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) = -0.000144
FCF Yield = -0.3867
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 = 0.0369
Debt = 0.3175
Market Cap = 0.3091
Weight Debt = Market Cap / (Market Cap + Debt) = 0.3091 / (0.3091 + 0.3175) = 0.4933
Weight Cost Debt = 100% - 0.4933 = 0.5067
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 = 2.54
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 2.54 * 5.94 + 0 = 0.1811
WACC = (0.0369 / 0.3175) * (100% - 0.4933) * (1 - 0.21) + 0.1811 + 0.4933 = 9.23
Terminal Value = Discount (-0.000144 * (1 + -0.3867) / (9.23 - -0.3867)) = -0.000118
Company Value = ∑ (-0.000144 / (1 + 9.23) ^ 5) = -0.002
Price = (Terminal Value + Company Value) / Count shares = (-0.000118 + -0.002) / 27080000 = -0.0784