TSE: 8593 - Mitsubishi HC Capital 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 = 1439019288.87
CAGR EPS = 2730.96%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 1014.3 + (1014.3 * 2730.96% / 100) = 28714.45

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 = 39
g = 0.2607
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 = 1.17
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 1.17 * 5.94 + 0 = 0.0998
Price = (39 * (1 + 0.2607)) / (0.0998 - 0.2607) = 305.61

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) = 895.7
Ebitda Yield = 0.1257
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 = 11.06
Debt = 218.48
Market Cap = 1300
Weight Debt = Market Cap / (Market Cap + Debt) = 1300 / (1300 + 218.48) = 0.8561
Weight Cost Debt = 100% - 0.8561 = 0.1439
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 = 1.17
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 1.17 * 5.94 + 0 = 0.0998
WACC = (11.06 / 218.48) * (100% - 0.8561) * (1 - 0.21) + 0.0998 + 0.8561 = 4.05
Terminal Value = Discount (895.7 * (1 + 0.1257) / (4.05 - 0.1257)) = 9703.58
Company Value = ∑ (895.7 / (1 + 4.05) ^ 5) = 3156.7
Price = (Terminal Value + Company Value) / Count shares = (9703.58 + 3156.7) / 86 = 149538120983.6

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) = -13.72
FCF Yield = -0.2252
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 = 11.06
Debt = 218.48
Market Cap = 1300
Weight Debt = Market Cap / (Market Cap + Debt) = 1300 / (1300 + 218.48) = 0.8561
Weight Cost Debt = 100% - 0.8561 = 0.1439
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 = 1.17
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 1.17 * 5.94 + 0 = 0.0998
WACC = (11.06 / 218.48) * (100% - 0.8561) * (1 - 0.21) + 0.0998 + 0.8561 = 4.05
Terminal Value = Discount (-13.72 * (1 + -0.2252) / (4.05 - -0.2252)) = -32.8
Company Value = ∑ (-13.72 / (1 + 4.05) ^ 5) = -110.46
Price = (Terminal Value + Company Value) / Count shares = (-32.8 + -110.46) / 86 = -1665904826.48