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 = -0.046
CAGR EPS = 7.28%
Key Rate = 0.0364
Excess Key Rate = 2
Price = 0.42 + (0.42 * 7.28% / 100) = 0.45

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) = 0.0469
Ebitda Yield = 0.2
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 = 8.9E-5
Debt = 0.1
Market Cap = 0.0402
Weight Debt = Market Cap / (Market Cap + Debt) = 0.0402 / (0.0402 + 0.1) = 0.28
Weight Cost Debt = 100% - 0.28 = 0.72
Tax = 0.21
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) = 2.71
β = -4.29
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.71 + -4.29 * 5.94 + 0 = -0.23
WACC = (8.9E-5 / 0.1) * (100% - 0.28) * (1 - 0.21) + -0.23 + 0.28 = 0.0047
Terminal Value = Discount (0.0469 * (1 + 0.2) / (0.0047 - 0.2)) = 0.29
Company Value = ∑ (0.0469 / (1 + 0.0047) ^ 5) = 0.17
Price = (Terminal Value + Company Value) / Count shares = (0.29 + 0.17) / 134970000 = 3.37

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) = -148.16
FCF Yield = 5.2
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 = 8.9E-5
Debt = 0.1
Market Cap = 0.0402
Weight Debt = Market Cap / (Market Cap + Debt) = 0.0402 / (0.0402 + 0.1) = 0.28
Weight Cost Debt = 100% - 0.28 = 0.72
Tax = 0.21
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) = 2.71
β = -4.29
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.71 + -4.29 * 5.94 + 0 = -0.23
WACC = (8.9E-5 / 0.1) * (100% - 0.28) * (1 - 0.21) + -0.23 + 0.28 = 0.0047
Terminal Value = Discount (-148.16 * (1 + 5.2) / (0.0047 - 5.2)) = -176.62
Company Value = ∑ (-148.16 / (1 + 0.0047) ^ 5) = -176.6
Price = (Terminal Value + Company Value) / Count shares = (-176.62 + -176.6) / 134970000 = -2617.08