NASDAQ: CFLT - Confluent, Inc.

Price = Avg Price + (Avg Price * CAGR EPS% / 100)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — 关键利率
Excess Key Rate — 期望超出关键利率
EPS = -1.47
CAGR EPS = 26.75%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 28.73 + (28.73 * 26.75% / 100) = 36.42

Price = (Terminal Value + Company Value) / Count shares
Price - 价格公道
Terminal Value — 预测后期间的成本
Company Value — 预测期内的成本
Count shares - 股份数量
Terminal Value = Discount Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = -1.6
Ebitda Yield = 0.2916
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - 偿债成本
Debt - 责任
Weight Debt - 相对于债务的资本权重
Weight Cost Debt - 债务权重相对于资本总额
Tax - 税
Interest Expense = 0.0038
Debt = 1.1
Market Cap = 9.72
Weight Debt = Market Cap / (Market Cap + Debt) = 9.72 / (9.72 + 1.1) = 0.8987
Weight Cost Debt = 100% - 0.8987 = 0.1013
Tax = 0.21
Cost Of Equity — 贴现率
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — 无风险回报率
β (beta) — 确定股票（资产）相对于市场的风险度量，并显示股票盈利能力变化相对于市场盈利能力变化的敏感性。
Risk Premium — 风险溢价——投资股票的风险溢价
Country Premium - 国家风险
k(f) = 2.82
β = 2.15
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 2.15 * 5.94 + 0 = 0.1557
WACC = (0.0038 / 1.1) * (100% - 0.8987) * (1 - 0.21) + 0.1557 + 0.8987 = 0.4113
Terminal Value = Discount (-1.6 * (1 + 0.2916) / (0.4113 - 0.2916)) = -7.02
Company Value = ∑ (-1.6 / (1 + 0.4113) ^ 5) = -5.03
Price = (Terminal Value + Company Value) / Count shares = (-7.02 + -5.03) / 300730000 = -40.08

Price = (Terminal Value + Company Value) / Count shares
Price - 价格公道
Terminal Value — 预测后期间的成本
Company Value — 预测期内的成本
Count shares - 股份数量
Terminal Value = Discount FCF(5) * (1 + FCF Yield) / (WACC - FCF Yield)
Company Value = ∑ (Discount FCF / (1 + WACC) ^ 5)
Discount FCF(5) = -0.1934
FCF Yield = 0.0924
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - 偿债成本
Debt - 责任
Weight Debt - 相对于债务的资本权重
Weight Cost Debt - 债务权重相对于资本总额
Tax - 税
Interest Expense = 0.0038
Debt = 1.1
Market Cap = 9.72
Weight Debt = Market Cap / (Market Cap + Debt) = 9.72 / (9.72 + 1.1) = 0.8987
Weight Cost Debt = 100% - 0.8987 = 0.1013
Tax = 0.21
Cost Of Equity — 贴现率
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — 无风险回报率
β (beta) — 确定股票（资产）相对于市场的风险度量，并显示股票盈利能力变化相对于市场盈利能力变化的敏感性。
Risk Premium — 风险溢价——投资股票的风险溢价
Country Premium - 国家风险
k(f) = 2.82
β = 2.15
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 2.15 * 5.94 + 0 = 0.1557
WACC = (0.0038 / 1.1) * (100% - 0.8987) * (1 - 0.21) + 0.1557 + 0.8987 = 0.4113
Terminal Value = Discount (-0.1934 * (1 + 0.0924) / (0.4113 - 0.0924)) = -2.35
Company Value = ∑ (-0.1934 / (1 + 0.4113) ^ 5) = -0.8061
Price = (Terminal Value + Company Value) / Count shares = (-2.35 + -0.8061) / 300730000 = -10.48