NASDAQ: PSNL - Personalis, 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 = -2.25
CAGR EPS = 10.05%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 2.55 + (2.55 * 10.05% / 100) = 2.8

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 Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = -0.3244
Ebitda Yield = 0.2736
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 = 0.00011
Debt = 0.049
Market Cap = 0.1001
Weight Debt = Market Cap / (Market Cap + Debt) = 0.1001 / (0.1001 + 0.049) = 0.6715
Weight Cost Debt = 100% - 0.6715 = 0.3285
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) = 2.75
β = -1.83
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -1.83 * 5.94 + 0 = -0.0814
WACC = (0.00011 / 0.049) * (100% - 0.6715) * (1 - 0.21) + -0.0814 + 0.6715 = 0.1216
Terminal Value = Discount (-0.3244 * (1 + 0.2736) / (0.1216 - 0.2736)) = -1.51
Company Value = ∑ (-0.3244 / (1 + 0.1216) ^ 5) = -1.06
Price = (Terminal Value + Company Value) / Count shares = (-1.51 + -1.06) / 48180000 = -53.19

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) = -0.1435
FCF Yield = 0.1639
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 = 0.00011
Debt = 0.049
Market Cap = 0.1001
Weight Debt = Market Cap / (Market Cap + Debt) = 0.1001 / (0.1001 + 0.049) = 0.6715
Weight Cost Debt = 100% - 0.6715 = 0.3285
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) = 2.75
β = -1.83
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + -1.83 * 5.94 + 0 = -0.0814
WACC = (0.00011 / 0.049) * (100% - 0.6715) * (1 - 0.21) + -0.0814 + 0.6715 = 0.1216
Terminal Value = Discount (-0.1435 * (1 + 0.1639) / (0.1216 - 0.1639)) = -1.02
Company Value = ∑ (-0.1435 / (1 + 0.1216) ^ 5) = -0.5396
Price = (Terminal Value + Company Value) / Count shares = (-1.02 + -0.5396) / 48180000 = -32.37