NASDAQ: JYD - Jayud Global Logistics Limited

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 = -3.42
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 1.59 + (1.59 * 8.66% / 100) = 1.73

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) = 0.1596
Ebitda Yield = -2.17
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 = 0.000995
Debt = 0.0455
Market Cap = 0.0767
Weight Debt = Market Cap / (Market Cap + Debt) = 0.0767 / (0.0767 + 0.0455) = 0.6278
Weight Cost Debt = 100% - 0.6278 = 0.3722
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) = 3
β = 1.05
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 1.05 * 5.94 + 0 = 0.0923
WACC = (0.000995 / 0.0455) * (100% - 0.6278) * (1 - 0.21) + 0.0923 + 0.6278 = 1.78
Terminal Value = Discount (0.1596 * (1 + -2.17) / (1.78 - -2.17)) = -0.0783
Company Value = ∑ (0.1596 / (1 + 1.78) ^ 5) = 0.1166
Price = (Terminal Value + Company Value) / Count shares = (-0.0783 + 0.1166) / 21250000 = 1.8

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) = -0.1334
FCF Yield = 0.2235
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 = 0.000995
Debt = 0.0455
Market Cap = 0.0767
Weight Debt = Market Cap / (Market Cap + Debt) = 0.0767 / (0.0767 + 0.0455) = 0.6278
Weight Cost Debt = 100% - 0.6278 = 0.3722
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) = 3
β = 1.05
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 1.05 * 5.94 + 0 = 0.0923
WACC = (0.000995 / 0.0455) * (100% - 0.6278) * (1 - 0.21) + 0.0923 + 0.6278 = 1.78
Terminal Value = Discount (-0.1334 * (1 + 0.2235) / (1.78 - 0.2235)) = -0.7266
Company Value = ∑ (-0.1334 / (1 + 1.78) ^ 5) = -0.4372
Price = (Terminal Value + Company Value) / Count shares = (-0.7266 + -0.4372) / 21250000 = -54.77