OTC: LINRF - Liontown Resources Limited

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 = -0.0276
CAGR EPS = 29.77%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.7451 + (0.7451 * 29.77% / 100) = 0.967

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) = -0.2103
Ebitda Yield = 0.2881
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 = 0.0215
Debt = 0.4609
Market Cap = 3.94
Weight Debt = Market Cap / (Market Cap + Debt) = 3.94 / (3.94 + 0.4609) = 0.8953
Weight Cost Debt = 100% - 0.8953 = 0.1047
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 = -3.35
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -3.35 * 5.94 + 0 = -0.1717
WACC = (0.0215 / 0.4609) * (100% - 0.8953) * (1 - 0.21) + -0.1717 + 0.8953 = 3.5
Terminal Value = Discount (-0.2103 * (1 + 0.2881) / (3.5 - 0.2881)) = -0.9012
Company Value = ∑ (-0.2103 / (1 + 3.5) ^ 5) = -0.5993
Price = (Terminal Value + Company Value) / Count shares = (-0.9012 + -0.5993) / 2197050000 = -0.683

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) = -18.21
FCF Yield = 0.912
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 = 0.0215
Debt = 0.4609
Market Cap = 3.94
Weight Debt = Market Cap / (Market Cap + Debt) = 3.94 / (3.94 + 0.4609) = 0.8953
Weight Cost Debt = 100% - 0.8953 = 0.1047
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 = -3.35
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -3.35 * 5.94 + 0 = -0.1717
WACC = (0.0215 / 0.4609) * (100% - 0.8953) * (1 - 0.21) + -0.1717 + 0.8953 = 3.5
Terminal Value = Discount (-18.21 * (1 + 0.912) / (3.5 - 0.912)) = -33.43
Company Value = ∑ (-18.21 / (1 + 3.5) ^ 5) = -31.88
Price = (Terminal Value + Company Value) / Count shares = (-33.43 + -31.88) / 2197050000 = -29.73