NYSE: UNFI - United Natural Foods, 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 = -1.89
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 18.9 + (18.9 * 8.66% / 100) = 20.54

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) = 0.2192
Ebitda Yield = -0.0924
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 = 0.162
Debt = 3.55
Market Cap = 1.23
Weight Debt = Market Cap / (Market Cap + Debt) = 1.23 / (1.23 + 3.55) = 0.2574
Weight Cost Debt = 100% - 0.2574 = 0.7426
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 = -1.27
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + -1.27 * 5.94 + 0 = -0.0473
WACC = (0.162 / 3.55) * (100% - 0.2574) * (1 - 0.21) + -0.0473 + 0.2574 = 3.59
Terminal Value = Discount (0.2192 * (1 + -0.0924) / (3.59 - -0.0924)) = 1.3
Company Value = ∑ (0.2192 / (1 + 3.59) ^ 5) = 1.22
Price = (Terminal Value + Company Value) / Count shares = (1.3 + 1.22) / 59300000 = 42.48

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) = 0.0015
FCF Yield = -1.44
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 = 0.162
Debt = 3.55
Market Cap = 1.23
Weight Debt = Market Cap / (Market Cap + Debt) = 1.23 / (1.23 + 3.55) = 0.2574
Weight Cost Debt = 100% - 0.2574 = 0.7426
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 = -1.27
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + -1.27 * 5.94 + 0 = -0.0473
WACC = (0.162 / 3.55) * (100% - 0.2574) * (1 - 0.21) + -0.0473 + 0.2574 = 3.59
Terminal Value = Discount (0.0015 * (1 + -1.44) / (3.59 - -1.44)) = -0.000372
Company Value = ∑ (0.0015 / (1 + 3.59) ^ 5) = 0.0277
Price = (Terminal Value + Company Value) / Count shares = (-0.000372 + 0.0277) / 59300000 = 0.4614