TSE: 7095 - Macbee Planet, Inc.

Price = EPS * (1 + CAGR EPS) / (Key Rate * Excess Key Rate)
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 = 155.56
CAGR EPS = 9.53%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 155.56 * (1 + 9.53%) / (0.0433 * 2) = 1967.4

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 = 18
g = 0.8336
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 = -3.04
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -3.04 * 5.94 + 0 = -0.1504
Price = (18 * (1 + 0.8336)) / (-0.1504 - 0.8336) = 33.54

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) = 31.12
Ebitda Yield = 0.495
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 = 0.028
Debt = 3.03
Market Cap = 66.16
Weight Debt = Market Cap / (Market Cap + Debt) = 66.16 / (66.16 + 3.03) = 0.9562
Weight Cost Debt = 100% - 0.9562 = 0.0438
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 = -3.04
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -3.04 * 5.94 + 0 = -0.1504
WACC = (0.028 / 3.03) * (100% - 0.9562) * (1 - 0.21) + -0.1504 + 0.9562 = 0.5797
Terminal Value = Discount (31.12 * (1 + 0.495) / (0.5797 - 0.495)) = 92.39
Company Value = ∑ (31.12 / (1 + 0.5797) ^ 5) = 79.66
Price = (Terminal Value + Company Value) / Count shares = (92.39 + 79.66) / 14670000 = 11728

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) = 62.54
FCF Yield = 0.6774
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 = 0.028
Debt = 3.03
Market Cap = 66.16
Weight Debt = Market Cap / (Market Cap + Debt) = 66.16 / (66.16 + 3.03) = 0.9562
Weight Cost Debt = 100% - 0.9562 = 0.0438
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 = -3.04
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + -3.04 * 5.94 + 0 = -0.1504
WACC = (0.028 / 3.03) * (100% - 0.9562) * (1 - 0.21) + -0.1504 + 0.9562 = 0.5797
Terminal Value = Discount (62.54 * (1 + 0.6774) / (0.5797 - 0.6774)) = 151.74
Company Value = ∑ (62.54 / (1 + 0.5797) ^ 5) = 139.98
Price = (Terminal Value + Company Value) / Count shares = (151.74 + 139.98) / 14670000 = 19886.06