analysis by کانال هرمس سهم about Stock شبندر: Buy recommendation (8/10/2025)

If we want to count on the market logic from the Gordon formula calculations, we would be in the trap, that is, it can be played with inputs to justify any number, but let's go to see a fingerprint calculator anyway. Government interest rates of 1-5 percent Spending a 2-4 percent risk Expectation rate of 1-5 percent Dividend Inflation rate of 1-5 percent Growth rate of 1-5 percent R-G = Max 20%, MIN 5% P/ e min =, 6* (1,35)/, 2 = 4 P/ e max =, 7* (1,4)/, 05 = 19,6 This successive range of forward can be justified in mathematically due to minor changes in inflation and corporate dividend rates. Note that all of this range can happen at the current interest rate and due to changes in inflation! Because the interest rate of the percentage, then the market should be frozen, the interest rate on the inflation rate and the growth of companies should be measured, not itself. Note that the low and upper domains are usually not stable, and the system quickly tends to average, the average of the stock forwards in the past was between 1 and 2. So it can be said that the low domain numbers were mainly the opportunity to buy and the upper domain. For example, year, the market for the market for the market has reached the top. You might say that the interest rate was low at the time, but I still say that the interest rate is not important, the discount rate and growth must be seen as one of the components of the interest rate, we can have a 2 % interest rate or a 1, just like now.  Overall, as long as the inflation rate and interest rates were not seriously reduced to numbers below 1-5 %, this may have been the case. Domain 1-4 with an average of 1–2  So be careful where you buy. There is now a long -standing market for the whole market of 4.3, and the forward is about 2.3 next year.  Exactly on the bottom of the channel.   A share like Shabendar in the quarter of Tomans made a profit Probably his 6 -month profit reaches two hundred dollars The share of the day is only six months of profit on the day. There is no power outage and gas and it completely emits inflation.  The share is at the bottom of the channel with a profit of 6 months. Estimates of a 6 -month profit and a 6 -month -old with yourself. This is for most refineries. The only risk is the drop of spreads. And this is not just for refineries, many companies are in the same situation. Of course, whether the market can go down or not, no one can say, the market is the result of each individual's emotional activities, emotional and emotional behavior, but it can be said with confidence that the emotional behaviors were temporary and eventually the markets moved to balance points.  The important thing is to know where you are cheap. Be healthy