NYSE: THS - TreeHouse Foods, 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 = 0.9415
CAGR EPS = 19.92%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.9415 * (1 + 19.92%) / (0.0433 * 2) = 13.04

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) = 0.5375
Ebitda Yield = 0.1236
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 = 0.0941
Debt = 1.44
Market Cap = 2.68
Weight Debt = Market Cap / (Market Cap + Debt) = 2.68 / (2.68 + 1.44) = 0.651
Weight Cost Debt = 100% - 0.651 = 0.349
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 = -2.07
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -2.07 * 5.94 + 0 = -0.0943
WACC = (0.0941 / 1.44) * (100% - 0.651) * (1 - 0.21) + -0.0943 + 0.651 = 5.08
Terminal Value = Discount (0.5375 * (1 + 0.1236) / (5.08 - 0.1236)) = 6.47
Company Value = ∑ (0.5375 / (1 + 5.08) ^ 5) = 1.84
Price = (Terminal Value + Company Value) / Count shares = (6.47 + 1.84) / 56400000 = 147.44

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) = 0.0029
FCF Yield = -0.2927
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 = 0.0941
Debt = 1.44
Market Cap = 2.68
Weight Debt = Market Cap / (Market Cap + Debt) = 2.68 / (2.68 + 1.44) = 0.651
Weight Cost Debt = 100% - 0.651 = 0.349
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 = -2.07
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -2.07 * 5.94 + 0 = -0.0943
WACC = (0.0941 / 1.44) * (100% - 0.651) * (1 - 0.21) + -0.0943 + 0.651 = 5.08
Terminal Value = Discount (0.0029 * (1 + -0.2927) / (5.08 - -0.2927)) = 0.0047
Company Value = ∑ (0.0029 / (1 + 5.08) ^ 5) = 0.0293
Price = (Terminal Value + Company Value) / Count shares = (0.0047 + 0.0293) / 56400000 = 0.6024