OTC: MTSUY - Mitsubishi Corporation

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 = 1.51
CAGR EPS = 13.46%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 1.51 * (1 + 13.46%) / (0.0433 * 2) = 19.78

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) = 4.26
Ebitda Yield = -0.4917
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 = 1.23
Debt = 32.92
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 32.92) = 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) = 3
β = -2.08
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -2.08 * 5.94 + 0 = -0.0934
WACC = (1.23 / 32.92) * (100% - 0) * (1 - 0.21) + -0.0934 + 0 = 2.95
Terminal Value = Discount (4.26 * (1 + -0.4917) / (2.95 - -0.4917)) = 3.6
Company Value = ∑ (4.26 / (1 + 2.95) ^ 5) = 118.95
Price = (Terminal Value + Company Value) / Count shares = (3.6 + 118.95) / 4097860000 = 29.9

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) = 0.2007
FCF Yield = -0.4806
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 = 1.23
Debt = 32.92
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 32.92) = 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) = 3
β = -2.08
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -2.08 * 5.94 + 0 = -0.0934
WACC = (1.23 / 32.92) * (100% - 0) * (1 - 0.21) + -0.0934 + 0 = 2.95
Terminal Value = Discount (0.2007 * (1 + -0.4806) / (2.95 - -0.4806)) = 0.1766
Company Value = ∑ (0.2007 / (1 + 2.95) ^ 5) = 5.23
Price = (Terminal Value + Company Value) / Count shares = (0.1766 + 5.23) / 4097860000 = 1.32