TSE: 7864 - Fuji Seal International, 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 = 187.76
CAGR EPS = 3.84%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 2097 + (2097 * 3.84% / 100) = 2177.54

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 = 73
g = 0.0424
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) = 2.89
β = 1.95
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 1.95 * 5.94 + 0 = 0.1448
Price = (73 * (1 + 0.0424)) / (0.1448 - 0.0424) = 743.29

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) = 24.07
Ebitda Yield = 0.0118
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 = 0.382
Debt = 6.78
Market Cap = 83.96
Weight Debt = Market Cap / (Market Cap + Debt) = 83.96 / (83.96 + 6.78) = 0.9253
Weight Cost Debt = 100% - 0.9253 = 0.0747
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) = 2.89
β = 1.95
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 1.95 * 5.94 + 0 = 0.1448
WACC = (0.382 / 6.78) * (100% - 0.9253) * (1 - 0.21) + 0.1448 + 0.9253 = 4.54
Terminal Value = Discount (24.07 * (1 + 0.0118) / (4.54 - 0.0118)) = 580.54
Company Value = ∑ (24.07 / (1 + 4.54) ^ 5) = 103
Price = (Terminal Value + Company Value) / Count shares = (580.54 + 103) / 54760000 = 12482.47

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) = 14.74
FCF Yield = 0.0163
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 = 0.382
Debt = 6.78
Market Cap = 83.96
Weight Debt = Market Cap / (Market Cap + Debt) = 83.96 / (83.96 + 6.78) = 0.9253
Weight Cost Debt = 100% - 0.9253 = 0.0747
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) = 2.89
β = 1.95
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 1.95 * 5.94 + 0 = 0.1448
WACC = (0.382 / 6.78) * (100% - 0.9253) * (1 - 0.21) + 0.1448 + 0.9253 = 4.54
Terminal Value = Discount (14.74 * (1 + 0.0163) / (4.54 - 0.0163)) = 412.52
Company Value = ∑ (14.74 / (1 + 4.54) ^ 5) = 62.52
Price = (Terminal Value + Company Value) / Count shares = (412.52 + 62.52) / 54760000 = 8674.86