OTC: DRKTF - Darktrace plc

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 = 0.087
CAGR EPS = 30.18%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.087 * (1 + 30.18%) / (0.0433 * 2) = 1.31

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) = 0.3453
Ebitda Yield = 0.336
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 = 0.0037
Debt = 0.0575
Market Cap = 3.01
Weight Debt = Market Cap / (Market Cap + Debt) = 3.01 / (3.01 + 0.0575) = 0.9813
Weight Cost Debt = 100% - 0.9813 = 0.0187
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) = 2.39
β = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + 0 * 5.94 + 0 = 0.0239
WACC = (0.0037 / 0.0575) * (100% - 0.9813) * (1 - 0.21) + 0.0239 + 0.9813 = 5.04
Terminal Value = Discount (0.3453 * (1 + 0.336) / (5.04 - 0.336)) = 1.26
Company Value = ∑ (0.3453 / (1 + 5.04) ^ 5) = 0.8839
Price = (Terminal Value + Company Value) / Count shares = (1.26 + 0.8839) / 677910000 = 3.17

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) = 1.23
FCF Yield = 0.5858
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 = 0.0037
Debt = 0.0575
Market Cap = 3.01
Weight Debt = Market Cap / (Market Cap + Debt) = 3.01 / (3.01 + 0.0575) = 0.9813
Weight Cost Debt = 100% - 0.9813 = 0.0187
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) = 2.39
β = 0
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + 0 * 5.94 + 0 = 0.0239
WACC = (0.0037 / 0.0575) * (100% - 0.9813) * (1 - 0.21) + 0.0239 + 0.9813 = 5.04
Terminal Value = Discount (1.23 * (1 + 0.5858) / (5.04 - 0.5858)) = 2.84
Company Value = ∑ (1.23 / (1 + 5.04) ^ 5) = 2.48
Price = (Terminal Value + Company Value) / Count shares = (2.84 + 2.48) / 677910000 = 7.85