TSE: 3069 - JFLA Holdings Inc.

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 = -12.97
CAGR EPS = -179.71%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0 + (0 * -179.71% / 100) = 119.37

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) = 0.8786
Ebitda Yield = -0.138
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 = 0.4315
Debt = 19.96
Market Cap = 14.92
Weight Debt = Market Cap / (Market Cap + Debt) = 14.92 / (14.92 + 19.96) = 0.4278
Weight Cost Debt = 100% - 0.4278 = 0.5722
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) = 2.82
β = 2.17
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 2.17 * 5.94 + 0 = 0.1573
WACC = (0.4315 / 19.96) * (100% - 0.4278) * (1 - 0.21) + 0.1573 + 0.4278 = 1.77
Terminal Value = Discount (0.8786 * (1 + -0.138) / (1.77 - -0.138)) = 4.46
Company Value = ∑ (0.8786 / (1 + 1.77) ^ 5) = 5.77
Price = (Terminal Value + Company Value) / Count shares = (4.46 + 5.77) / 47680000 = 214.38

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) = 2.51
FCF Yield = 0.1518
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 = 0.4315
Debt = 19.96
Market Cap = 14.92
Weight Debt = Market Cap / (Market Cap + Debt) = 14.92 / (14.92 + 19.96) = 0.4278
Weight Cost Debt = 100% - 0.4278 = 0.5722
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) = 2.82
β = 2.17
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 2.17 * 5.94 + 0 = 0.1573
WACC = (0.4315 / 19.96) * (100% - 0.4278) * (1 - 0.21) + 0.1573 + 0.4278 = 1.77
Terminal Value = Discount (2.51 * (1 + 0.1518) / (1.77 - 0.1518)) = 19.77
Company Value = ∑ (2.51 / (1 + 1.77) ^ 5) = 9.12
Price = (Terminal Value + Company Value) / Count shares = (19.77 + 9.12) / 47680000 = 605.92