OTC: DSBX - Dogwood State Bank

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 = 0.7239
CAGR EPS = 2.58%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 0.7239 * (1 + 2.58%) / (0.0458 * 2) = 8.11

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) = 0.1947
Ebitda Yield = 0.288
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 = 0.0257
Debt = 0
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0) = 0
Weight Cost Debt = 100% - 0 = 1
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) = 2.75
β = -0.7242
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -0.7242 * 5.94 + 0 = -0.0155
WACC = (0.0257 / 0) * (100% - 0) * (1 - 0.21) + -0.0155 + 0 = 0
Terminal Value = Discount (0.1947 * (1 + 0.288) / (0 - 0.288)) = 0.8706
Company Value = ∑ (0.1947 / (1 + 0) ^ 5) = 0.625
Price = (Terminal Value + Company Value) / Count shares = (0.8706 + 0.625) / 14710000 = 101.67

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) = 0.0369
FCF Yield = 0.3209
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 = 0.0257
Debt = 0
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0) = 0
Weight Cost Debt = 100% - 0 = 1
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) = 2.75
β = -0.7242
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -0.7242 * 5.94 + 0 = -0.0155
WACC = (0.0257 / 0) * (100% - 0) * (1 - 0.21) + -0.0155 + 0 = 0
Terminal Value = Discount (0.0369 * (1 + 0.3209) / (0 - 0.3209)) = 0.1519
Company Value = ∑ (0.0369 / (1 + 0) ^ 5) = 0.1141
Price = (Terminal Value + Company Value) / Count shares = (0.1519 + 0.1141) / 14710000 = 18.09