Asset values are computed using the discounted cash flow approach and the following inputs: 

Thus, we have

P_{i,t}=\sum_{t=1}^T \frac{CF_t}{(1+r_{i,t})^t}

with  P_t the price of asset i at time  tCF_1\dots CF_T the stream of future payouts, and r_{i,t} the discount rate for asset i at time t.

Here, r_{i,t} is the combination of the term structure of risk-free rates in each period  t until investment horizon T and the risk premia \hat{\gamma_i} estimated for asset i.

As described here, \hat{\gamma_i} is a company specific risk-premia, computed as the combination of asset i's risk factor exposures at the time of valuation or \beta_{i,t} and the market price of each risk factor \lambda_t  estimated from observable market prices.