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 = 0.17
CAGR EPS = 33%
Key Rate = 0.165
Excess Key Rate = 2
Price = 0.4352 + (0.4352 * 33% / 100) = 0.5787

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) = 176.93
Ebitda Yield = 0.0336
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 = 58.3
Debt = 730.3
Market Cap = 177.2
Weight Debt = Market Cap / (Market Cap + Debt) = 177.2 / (177.2 + 730.3) = 0.1953
Weight Cost Debt = 100% - 0.1953 = 0.8047
Tax = 0.2
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) = 6.65
β = 1.4
Risk Premium = 5.91
Country Premium = 12.94
Cost Of Equity = 6.65 + 1.4 * 5.91 + 12.94 = 0.2789
WACC = (58.3 / 730.3) * (100% - 0.1953) * (1 - 0.2) + 0.2789 + 0.1953 = 6.43
Terminal Value = Discount (176.93 * (1 + 0.0336) / (6.43 - 0.0336)) = 4360.28
Company Value = ∑ (176.93 / (1 + 6.43) ^ 5) = 687.51
Price = (Terminal Value + Company Value) / Count shares = (4360.28 + 687.51) / 444793000000 = 11.35

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) = 16.1
FCF Yield = -1.72
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 = 58.3
Debt = 730.3
Market Cap = 177.2
Weight Debt = Market Cap / (Market Cap + Debt) = 177.2 / (177.2 + 730.3) = 0.1953
Weight Cost Debt = 100% - 0.1953 = 0.8047
Tax = 0.2
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) = 6.65
β = 1.4
Risk Premium = 5.91
Country Premium = 12.94
Cost Of Equity = 6.65 + 1.4 * 5.91 + 12.94 = 0.2789
WACC = (58.3 / 730.3) * (100% - 0.1953) * (1 - 0.2) + 0.2789 + 0.1953 = 6.43
Terminal Value = Discount (16.1 * (1 + -1.72) / (6.43 - -1.72)) = -4.77
Company Value = ∑ (16.1 / (1 + 6.43) ^ 5) = 37.97
Price = (Terminal Value + Company Value) / Count shares = (-4.77 + 37.97) / 444793000000 = 0.0746