OTC: OCDGF - Ocado Group plc

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 = -0.3846
CAGR EPS = 0.4624%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 5.49 + (5.49 * 0.4624% / 100) = 5.51

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) = 0.5949
Ebitda Yield = 0.324
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 = 0.0958
Debt = 1.52
Market Cap = 8.03
Weight Debt = Market Cap / (Market Cap + Debt) = 8.03 / (8.03 + 1.52) = 0.8413
Weight Cost Debt = 100% - 0.8413 = 0.1587
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) = 2.89
β = -1.51
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -1.51 * 5.94 + 0 = -0.0607
WACC = (0.0958 / 1.52) * (100% - 0.8413) * (1 - 0.21) + -0.0607 + 0.8413 = 4.9
Terminal Value = Discount (0.5949 * (1 + 0.324) / (4.9 - 0.324)) = 2.25
Company Value = ∑ (0.5949 / (1 + 4.9) ^ 5) = 1.55
Price = (Terminal Value + Company Value) / Count shares = (2.25 + 1.55) / 816500000 = 4.66

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) = -0.8568
FCF Yield = 0.1353
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 = 0.0958
Debt = 1.52
Market Cap = 8.03
Weight Debt = Market Cap / (Market Cap + Debt) = 8.03 / (8.03 + 1.52) = 0.8413
Weight Cost Debt = 100% - 0.8413 = 0.1587
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) = 2.89
β = -1.51
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -1.51 * 5.94 + 0 = -0.0607
WACC = (0.0958 / 1.52) * (100% - 0.8413) * (1 - 0.21) + -0.0607 + 0.8413 = 4.9
Terminal Value = Discount (-0.8568 * (1 + 0.1353) / (4.9 - 0.1353)) = -8.87
Company Value = ∑ (-0.8568 / (1 + 4.9) ^ 5) = -2.9
Price = (Terminal Value + Company Value) / Count shares = (-8.87 + -2.9) / 816500000 = -14.41