TSE: 4259 - ExaWizards 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 = -7.49
CAGR EPS = 0.0697%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 352 + (352 * 0.0697% / 100) = 352.25

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) = 1.5
Ebitda Yield = 0.2864
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 = 0.02
Debt = 2.85
Market Cap = 49.51
Weight Debt = Market Cap / (Market Cap + Debt) = 49.51 / (49.51 + 2.85) = 0.9456
Weight Cost Debt = 100% - 0.9456 = 0.0544
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 = -0.2532
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -0.2532 * 5.94 + 0 = 0.0125
WACC = (0.02 / 2.85) * (100% - 0.9456) * (1 - 0.21) + 0.0125 + 0.9456 = 0.5609
Terminal Value = Discount (1.5 * (1 + 0.2864) / (0.5609 - 0.2864)) = 6.67
Company Value = ∑ (1.5 / (1 + 0.5609) ^ 5) = 4.72
Price = (Terminal Value + Company Value) / Count shares = (6.67 + 4.72) / 83280000 = 136.8

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) = -1.15
FCF Yield = 0.0055
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 = 0.02
Debt = 2.85
Market Cap = 49.51
Weight Debt = Market Cap / (Market Cap + Debt) = 49.51 / (49.51 + 2.85) = 0.9456
Weight Cost Debt = 100% - 0.9456 = 0.0544
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 = -0.2532
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -0.2532 * 5.94 + 0 = 0.0125
WACC = (0.02 / 2.85) * (100% - 0.9456) * (1 - 0.21) + 0.0125 + 0.9456 = 0.5609
Terminal Value = Discount (-1.15 * (1 + 0.0055) / (0.5609 - 0.0055)) = -16506.75
Company Value = ∑ (-1.15 / (1 + 0.5609) ^ 5) = -5.6
Price = (Terminal Value + Company Value) / Count shares = (-16506.75 + -5.6) / 83280000 = -198275.1