NASDAQ: HSTO - Histogen 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 = -3.26
CAGR EPS = 40.55%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.1975 + (0.1975 * 40.55% / 100) = 0.2776

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) = -0.0103
Ebitda Yield = -0.0078
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
Debt = 0.0046
Market Cap = 0.0031
Weight Debt = Market Cap / (Market Cap + Debt) = 0.0031 / (0.0031 + 0.0046) = 0.4026
Weight Cost Debt = 100% - 0.4026 = 0.5974
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) = 2.89
β = -9.86
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -9.86 * 5.94 + 0 = -0.5568
WACC = (0 / 0.0046) * (100% - 0.4026) * (1 - 0.21) + -0.5568 + 0.4026 = -0.2242
Terminal Value = Discount (-0.0103 * (1 + -0.0078) / (-0.2242 - -0.0078)) = -1.84
Company Value = ∑ (-0.0103 / (1 + -0.2242) ^ 5) = -0.0526
Price = (Terminal Value + Company Value) / Count shares = (-1.84 + -0.0526) / 3210000 = -590.88

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) = -0.0504
FCF Yield = 0.38
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
Debt = 0.0046
Market Cap = 0.0031
Weight Debt = Market Cap / (Market Cap + Debt) = 0.0031 / (0.0031 + 0.0046) = 0.4026
Weight Cost Debt = 100% - 0.4026 = 0.5974
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) = 2.89
β = -9.86
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + -9.86 * 5.94 + 0 = -0.5568
WACC = (0 / 0.0046) * (100% - 0.4026) * (1 - 0.21) + -0.5568 + 0.4026 = -0.2242
Terminal Value = Discount (-0.0504 * (1 + 0.38) / (-0.2242 - 0.38)) = -0.1841
Company Value = ∑ (-0.0504 / (1 + -0.2242) ^ 5) = -0.1477
Price = (Terminal Value + Company Value) / Count shares = (-0.1841 + -0.1477) / 3210000 = -103.38