US: BVSFF - Bravura Solutions Limited

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 = 0.0193
CAGR EPS = -31.79%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.0193 * (1 + -31.79%) / (0.0433 * 2) = 0.1522

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 = 0.163
g = 3.32
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) = 2.82
β = -10.79
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + -10.79 * 5.94 + 0 = -0.6126
Price = (0.163 * (1 + 3.32)) / (-0.6126 - 3.32) = 0.1791

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) = 0.015
Ebitda Yield = -0.1239
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 = 0.00026
Debt = 0.0174
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.0174) = 0
Weight Cost Debt = 100% - 0 = 1
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) = 2.82
β = -10.79
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + -10.79 * 5.94 + 0 = -0.6126
WACC = (0.00026 / 0.0174) * (100% - 0) * (1 - 0.21) + -0.6126 + 0 = 1.18
Terminal Value = Discount (0.015 * (1 + -0.1239) / (1.18 - -0.1239)) = 0.0912
Company Value = ∑ (0.015 / (1 + 1.18) ^ 5) = 0.0962
Price = (Terminal Value + Company Value) / Count shares = (0.0912 + 0.0962) / 454310000 = 0.4127

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) = 0.0361
FCF Yield = 0.1794
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 = 0.00026
Debt = 0.0174
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0.0174) = 0
Weight Cost Debt = 100% - 0 = 1
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) = 2.82
β = -10.79
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + -10.79 * 5.94 + 0 = -0.6126
WACC = (0.00026 / 0.0174) * (100% - 0) * (1 - 0.21) + -0.6126 + 0 = 1.18
Terminal Value = Discount (0.0361 * (1 + 0.1794) / (1.18 - 0.1794)) = 0.2397
Company Value = ∑ (0.0361 / (1 + 1.18) ^ 5) = 0.1283
Price = (Terminal Value + Company Value) / Count shares = (0.2397 + 0.1283) / 454310000 = 0.8102