Price = Avg Price + (Avg Price * CAGR EPS% / 100)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — 关键率
Excess Key Rate — 超出关键率的期望
EPS = -1.5
CAGR EPS = 104.78%
Key Rate = 0.0364
Excess Key Rate = 2
Price = 0.6075 + (0.6075 * 104.78% / 100) = 1.24

Price = (Terminal Value + Company Value) / Count shares
Price - 合理的价格
Terminal Value — 邮政过程中的费用
Company Value — 预测期内的成本
Count shares - 股票数量
Terminal Value = Discount Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = -0.8092
Ebitda Yield = 0.2034
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - 债务服务
Debt - 债务，十亿
Weight Debt - 相对于债务的重量
Weight Cost Debt - 债务权重有关大写
Tax - 税
Interest Expense = 0.0039
Debt = 0.3147
Market Cap = 0.6953
Weight Debt = Market Cap / (Market Cap + Debt) = 0.6953 / (0.6953 + 0.3147) = 0.6884
Weight Cost Debt = 100% - 0.6884 = 0.3116
Tax = 0.25
Cost Of Equity — 贴现率
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — 盈利能力
β (beta) — 确定与市场有关的股份（资产）风险（资产），并显示了与市场收益变化有关的行动盈利能力变化的敏感性。 Beta系数不仅可以针对单独的操作计算，还可以计算投资组合。
Risk Premium — 高级风险 - 投资诉讼风险的奖励
Country Premium - 国家风险
k(f) = 0.7
β = 2.83
Risk Premium = 18.88
Country Premium = 0.91
Cost Of Equity = 0.7 + 2.83 * 18.88 + 0.91 = 0.5498
WACC = (0.0039 / 0.3147) * (100% - 0.6884) * (1 - 0.25) + 0.5498 + 0.6884 = 1.31
Terminal Value = Discount (-0.8092 * (1 + 0.2034) / (1.31 - 0.2034)) = -4.79
Company Value = ∑ (-0.8092 / (1 + 1.31) ^ 5) = -2.77
Price = (Terminal Value + Company Value) / Count shares = (-4.79 + -2.77) / 1022440000 = -7.39

Price = (Terminal Value + Company Value) / Count shares
Price - 合理的价格
Terminal Value — 邮政过程中的费用
Company Value — 预测期内的成本
Count shares - 股票数量
Terminal Value = Discount FCF(5) * (1 + FCF Yield) / (WACC - FCF Yield)
Company Value = ∑ (Discount FCF / (1 + WACC) ^ 5)
Discount FCF(5) = -0.0614
FCF Yield = -0.1667
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - 债务服务
Debt - 债务，十亿
Weight Debt - 相对于债务的重量
Weight Cost Debt - 债务权重有关大写
Tax - 税
Interest Expense = 0.0039
Debt = 0.3147
Market Cap = 0.6953
Weight Debt = Market Cap / (Market Cap + Debt) = 0.6953 / (0.6953 + 0.3147) = 0.6884
Weight Cost Debt = 100% - 0.6884 = 0.3116
Tax = 0.25
Cost Of Equity — 贴现率
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — 盈利能力
β (beta) — 确定与市场有关的股份（资产）风险（资产），并显示了与市场收益变化有关的行动盈利能力变化的敏感性。 Beta系数不仅可以针对单独的操作计算，还可以计算投资组合。
Risk Premium — 高级风险 - 投资诉讼风险的奖励
Country Premium - 国家风险
k(f) = 0.7
β = 2.83
Risk Premium = 18.88
Country Premium = 0.91
Cost Of Equity = 0.7 + 2.83 * 18.88 + 0.91 = 0.5498
WACC = (0.0039 / 0.3147) * (100% - 0.6884) * (1 - 0.25) + 0.5498 + 0.6884 = 1.31
Terminal Value = Discount (-0.0614 * (1 + -0.1667) / (1.31 - -0.1667)) = -0.2666
Company Value = ∑ (-0.0614 / (1 + 1.31) ^ 5) = -0.4417
Price = (Terminal Value + Company Value) / Count shares = (-0.2666 + -0.4417) / 1022440000 = -0.6928