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 = 0.05
CAGR EPS = 98.86%
Key Rate = 0.165
Excess Key Rate = 2
Price = 0.0624 + (0.0624 * 98.86% / 100) = 0.1241

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) = 29.04
Ebitda Yield = 0.1514
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 = 4.65
Debt = 23.9
Market Cap = 11.7
Weight Debt = Market Cap / (Market Cap + Debt) = 11.7 / (11.7 + 23.9) = 0.3287
Weight Cost Debt = 100% - 0.3287 = 0.6713
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) = 7.73
β = 1.91
Risk Premium = 5.91
Country Premium = 12.94
Cost Of Equity = 7.73 + 1.91 * 5.91 + 12.94 = 0.3197
WACC = (4.65 / 23.9) * (100% - 0.3287) * (1 - 0.2) + 0.3197 + 0.3287 = 15.62
Terminal Value = Discount (29.04 * (1 + 0.1514) / (15.62 - 0.1514)) = 3372.3
Company Value = ∑ (29.04 / (1 + 15.62) ^ 5) = 70.87
Price = (Terminal Value + Company Value) / Count shares = (3372.3 + 70.87) / 151641000000 = 22.71

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) = -6.11
FCF Yield = 0.1355
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 = 4.65
Debt = 23.9
Market Cap = 11.7
Weight Debt = Market Cap / (Market Cap + Debt) = 11.7 / (11.7 + 23.9) = 0.3287
Weight Cost Debt = 100% - 0.3287 = 0.6713
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) = 7.73
β = 1.91
Risk Premium = 5.91
Country Premium = 12.94
Cost Of Equity = 7.73 + 1.91 * 5.91 + 12.94 = 0.3197
WACC = (4.65 / 23.9) * (100% - 0.3287) * (1 - 0.2) + 0.3197 + 0.3287 = 15.62
Terminal Value = Discount (-6.11 * (1 + 0.1355) / (15.62 - 0.1355)) = -162.06
Company Value = ∑ (-6.11 / (1 + 15.62) ^ 5) = -15.33
Price = (Terminal Value + Company Value) / Count shares = (-162.06 + -15.33) / 151641000000 = -1.17