TSE: 4375 - Safie 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 = -26.34
CAGR EPS = 21.17%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 772.5 + (772.5 * 21.17% / 100) = 936.02

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) = -3.37
Ebitda Yield = 0.1903
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 = 0.000364
Debt = 0.0942
Market Cap = 47.8
Weight Debt = Market Cap / (Market Cap + Debt) = 47.8 / (47.8 + 0.0942) = 0.998
Weight Cost Debt = 100% - 0.998 = 0.002
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 = -0.7509
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -0.7509 * 5.94 + 0 = -0.0146
WACC = (0.000364 / 0.0942) * (100% - 0.998) * (1 - 0.21) + -0.0146 + 0.998 = 0.2876
Terminal Value = Discount (-3.37 * (1 + 0.1903) / (0.2876 - 0.1903)) = -21.1
Company Value = ∑ (-3.37 / (1 + 0.2876) ^ 5) = -12.14
Price = (Terminal Value + Company Value) / Count shares = (-21.1 + -12.14) / 55240000 = -601.84

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) = -2.74
FCF Yield = 0.1158
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 = 0.000364
Debt = 0.0942
Market Cap = 47.8
Weight Debt = Market Cap / (Market Cap + Debt) = 47.8 / (47.8 + 0.0942) = 0.998
Weight Cost Debt = 100% - 0.998 = 0.002
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 = -0.7509
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -0.7509 * 5.94 + 0 = -0.0146
WACC = (0.000364 / 0.0942) * (100% - 0.998) * (1 - 0.21) + -0.0146 + 0.998 = 0.2876
Terminal Value = Discount (-2.74 * (1 + 0.1158) / (0.2876 - 0.1158)) = -26.67
Company Value = ∑ (-2.74 / (1 + 0.2876) ^ 5) = -11.03
Price = (Terminal Value + Company Value) / Count shares = (-26.67 + -11.03) / 55240000 = -682.45