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
CAGR EPS = 27.97%
Key Rate = 0.165
Excess Key Rate = 2
Price = 6.99 + (6.99 * 27.97% / 100) = 8.94

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) = 0.52
Ebitda Yield = 0.1487
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 = 0.1774
Debt = 0
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0) = 0
Weight Cost Debt = 100% - 0 = 1
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 = 1.08
Risk Premium = 5.91
Country Premium = 12.94
Cost Of Equity = 6.65 + 1.08 * 5.91 + 12.94 = 0.26
WACC = (0.1774 / 0) * (100% - 0) * (1 - 0.2) + 0.26 + 0 = 0
Terminal Value = Discount (0.52 * (1 + 0.1487) / (0 - 0.1487)) = 4.02
Company Value = ∑ (0.52 / (1 + 0) ^ 5) = 2.01
Price = (Terminal Value + Company Value) / Count shares = (4.02 + 2.01) / 562000000 = 10.72

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) = 0.4371
FCF Yield = 0.1473
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 = 0.1774
Debt = 0
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0) = 0
Weight Cost Debt = 100% - 0 = 1
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 = 1.08
Risk Premium = 5.91
Country Premium = 12.94
Cost Of Equity = 6.65 + 1.08 * 5.91 + 12.94 = 0.26
WACC = (0.1774 / 0) * (100% - 0) * (1 - 0.2) + 0.26 + 0 = 0
Terminal Value = Discount (0.4371 * (1 + 0.1473) / (0 - 0.1473)) = 3.4
Company Value = ∑ (0.4371 / (1 + 0) ^ 5) = 1.69
Price = (Terminal Value + Company Value) / Count shares = (3.4 + 1.69) / 562000000 = 9.07