OTC: FMCKP - Federal Home Loan Mortgage Corporation

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 = 16.21
CAGR EPS = 7.87%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 11.2 + (11.2 * 7.87% / 100) = 12.08

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) = 14.21
Ebitda Yield = 0.0437
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 = 86.82
Debt = 3214.17
Market Cap = 1.32
Weight Debt = Market Cap / (Market Cap + Debt) = 1.32 / (1.32 + 3214.17) = 0.000411
Weight Cost Debt = 100% - 0.000411 = 0.999589
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 = 33.57
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 33.57 * 5.94 + 0 = 2.02
WACC = (86.82 / 3214.17) * (100% - 0.000411) * (1 - 0.21) + 2.02 + 0.000411 = 2.13
Terminal Value = Discount (14.21 * (1 + 0.0437) / (2.13 - 0.0437)) = 596.38
Company Value = ∑ (14.21 / (1 + 2.13) ^ 5) = 61.25
Price = (Terminal Value + Company Value) / Count shares = (596.38 + 61.25) / 650060000 = 1011.65

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) = 2.9
FCF Yield = -0.1187
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 = 86.82
Debt = 3214.17
Market Cap = 1.32
Weight Debt = Market Cap / (Market Cap + Debt) = 1.32 / (1.32 + 3214.17) = 0.000411
Weight Cost Debt = 100% - 0.000411 = 0.999589
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 = 33.57
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 33.57 * 5.94 + 0 = 2.02
WACC = (86.82 / 3214.17) * (100% - 0.000411) * (1 - 0.21) + 2.02 + 0.000411 = 2.13
Terminal Value = Discount (2.9 * (1 + -0.1187) / (2.13 - -0.1187)) = 16.45
Company Value = ∑ (2.9 / (1 + 2.13) ^ 5) = 17.94
Price = (Terminal Value + Company Value) / Count shares = (16.45 + 17.94) / 650060000 = 52.9