TSE: 5032 - ANYCOLOR 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 = 135.18
CAGR EPS = 201.63%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 3117.5 + (3117.5 * 201.63% / 100) = 9403.41

Price = (DPS * (1 + g)) / (Cost Of Equity - g)
Price - 价格公道
DPS — 当期股息
g — 预期增长率
DPS = 32.5
g = 4.82
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 = -4.01
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -4.01 * 5.94 + 0 = -0.2084
Price = (32.5 * (1 + 4.82)) / (-0.2084 - 4.82) = 37.61

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) = 879.16
Ebitda Yield = 1.34
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 = 0.0016
Debt = 0.1563
Market Cap = 225.77
Weight Debt = Market Cap / (Market Cap + Debt) = 225.77 / (225.77 + 0.1563) = 0.9993
Weight Cost Debt = 100% - 0.9993 = 0.00070000000000003
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 = -4.01
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -4.01 * 5.94 + 0 = -0.2084
WACC = (0.0016 / 0.1563) * (100% - 0.9993) * (1 - 0.21) + -0.2084 + 0.9993 = 0.5888
Terminal Value = Discount (879.16 * (1 + 1.34) / (0.5888 - 1.34)) = 1496.85
Company Value = ∑ (879.16 / (1 + 0.5888) ^ 5) = 1474.94
Price = (Terminal Value + Company Value) / Count shares = (1496.85 + 1474.94) / 64549999 = 46038.52

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) = 79.03
FCF Yield = 0.6484
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 = 0.0016
Debt = 0.1563
Market Cap = 225.77
Weight Debt = Market Cap / (Market Cap + Debt) = 225.77 / (225.77 + 0.1563) = 0.9993
Weight Cost Debt = 100% - 0.9993 = 0.00070000000000003
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 = -4.01
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -4.01 * 5.94 + 0 = -0.2084
WACC = (0.0016 / 0.1563) * (100% - 0.9993) * (1 - 0.21) + -0.2084 + 0.9993 = 0.5888
Terminal Value = Discount (79.03 * (1 + 0.6484) / (0.5888 - 0.6484)) = 196.9
Company Value = ∑ (79.03 / (1 + 0.5888) ^ 5) = 180.24
Price = (Terminal Value + Company Value) / Count shares = (196.9 + 180.24) / 64549999 = 5842.52