NASDAQ: OKTA - Okta, 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 = -2.17
CAGR EPS = 4.04%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 93.46 + (93.46 * 4.04% / 100) = 97.23

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) = -0.3231
Ebitda Yield = 0.0704
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 = 0.008
Debt = 1.27
Market Cap = 11.65
Weight Debt = Market Cap / (Market Cap + Debt) = 11.65 / (11.65 + 1.27) = 0.902
Weight Cost Debt = 100% - 0.902 = 0.098
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 = 3.23
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 3.23 * 5.94 + 0 = 0.2217
WACC = (0.008 / 1.27) * (100% - 0.902) * (1 - 0.21) + 0.2217 + 0.902 = 0.6947
Terminal Value = Discount (-0.3231 * (1 + 0.0704) / (0.6947 - 0.0704)) = -5.27
Company Value = ∑ (-0.3231 / (1 + 0.6947) ^ 5) = -1.39
Price = (Terminal Value + Company Value) / Count shares = (-5.27 + -1.39) / 163630000 = -40.67

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) = 5.44
FCF Yield = 0.62
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 = 0.008
Debt = 1.27
Market Cap = 11.65
Weight Debt = Market Cap / (Market Cap + Debt) = 11.65 / (11.65 + 1.27) = 0.902
Weight Cost Debt = 100% - 0.902 = 0.098
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 = 3.23
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 3.23 * 5.94 + 0 = 0.2217
WACC = (0.008 / 1.27) * (100% - 0.902) * (1 - 0.21) + 0.2217 + 0.902 = 0.6947
Terminal Value = Discount (5.44 * (1 + 0.62) / (0.6947 - 0.62)) = 13.9
Company Value = ∑ (5.44 / (1 + 0.6947) ^ 5) = 12.61
Price = (Terminal Value + Company Value) / Count shares = (13.9 + 12.61) / 163630000 = 161.99