TSE: 4382 - HEROZ, 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 = -75.45
CAGR EPS = -234.17%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 0 + (0 * -234.17% / 100) = 1105.18

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) = 1.04
Ebitda Yield = 0.0552
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 = 0.0103
Debt = 1.4
Market Cap = 31.57
Weight Debt = Market Cap / (Market Cap + Debt) = 31.57 / (31.57 + 1.4) = 0.9574
Weight Cost Debt = 100% - 0.9574 = 0.0426
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 = -2.14
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -2.14 * 5.94 + 0 = -0.0993
WACC = (0.0103 / 1.4) * (100% - 0.9574) * (1 - 0.21) + -0.0993 + 0.9574 = 0.4807
Terminal Value = Discount (1.04 * (1 + 0.0552) / (0.4807 - 0.0552)) = 21.34
Company Value = ∑ (1.04 / (1 + 0.4807) ^ 5) = 4.63
Price = (Terminal Value + Company Value) / Count shares = (21.34 + 4.63) / 15030000 = 1728.09

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) = 0.0037
FCF Yield = -0.2904
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 = 0.0103
Debt = 1.4
Market Cap = 31.57
Weight Debt = Market Cap / (Market Cap + Debt) = 31.57 / (31.57 + 1.4) = 0.9574
Weight Cost Debt = 100% - 0.9574 = 0.0426
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 = -2.14
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -2.14 * 5.94 + 0 = -0.0993
WACC = (0.0103 / 1.4) * (100% - 0.9574) * (1 - 0.21) + -0.0993 + 0.9574 = 0.4807
Terminal Value = Discount (0.0037 * (1 + -0.2904) / (0.4807 - -0.2904)) = 0.0088
Company Value = ∑ (0.0037 / (1 + 0.4807) ^ 5) = 0.0412
Price = (Terminal Value + Company Value) / Count shares = (0.0088 + 0.0412) / 15030000 = 3.33