OTC_MOEX: TGKD - Квадра

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 = -0.0022
CAGR EPS = 79.75%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.0125 + (0.0125 * 79.75% / 100) = 0.0224

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) = 3.54
Ebitda Yield = -0.0302
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 = 2.93
Debt = 26.72
Market Cap = 24
Weight Debt = Market Cap / (Market Cap + Debt) = 24 / (24 + 26.72) = 0.4732
Weight Cost Debt = 100% - 0.4732 = 0.5268
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) = 2.39
β = -0.368
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + -0.368 * 5.94 + 0 = 0.002
WACC = (2.93 / 26.72) * (100% - 0.4732) * (1 - 0.21) + 0.002 + 0.4732 = 8.62
Terminal Value = Discount (3.54 * (1 + -0.0302) / (8.62 - -0.0302)) = 19.48
Company Value = ∑ (3.54 / (1 + 8.62) ^ 5) = 14.85
Price = (Terminal Value + Company Value) / Count shares = (19.48 + 14.85) / 1987778000000 = 0.0173

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) = 17.69
FCF Yield = 0.2443
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 = 2.93
Debt = 26.72
Market Cap = 24
Weight Debt = Market Cap / (Market Cap + Debt) = 24 / (24 + 26.72) = 0.4732
Weight Cost Debt = 100% - 0.4732 = 0.5268
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) = 2.39
β = -0.368
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.39 + -0.368 * 5.94 + 0 = 0.002
WACC = (2.93 / 26.72) * (100% - 0.4732) * (1 - 0.21) + 0.002 + 0.4732 = 8.62
Terminal Value = Discount (17.69 * (1 + 0.2443) / (8.62 - 0.2443)) = 92.12
Company Value = ∑ (17.69 / (1 + 8.62) ^ 5) = 45.41
Price = (Terminal Value + Company Value) / Count shares = (92.12 + 45.41) / 1987778000000 = 0.0692