NASDAQ: SEAT - Vivid Seats 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 = 0.3748
CAGR EPS = 20.23%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 5.39 + (5.39 * 20.23% / 100) = 6.48

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) = 0.1212
Ebitda Yield = 0.0342
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 = 0.0135
Debt = 0.2686
Market Cap = 0.6408
Weight Debt = Market Cap / (Market Cap + Debt) = 0.6408 / (0.6408 + 0.2686) = 0.7047
Weight Cost Debt = 100% - 0.7047 = 0.2953
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 = 2.13
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 2.13 * 5.94 + 0 = 0.1563
WACC = (0.0135 / 0.2686) * (100% - 0.7047) * (1 - 0.21) + 0.1563 + 0.7047 = 4.05
Terminal Value = Discount (0.1212 * (1 + 0.0342) / (4.05 - 0.0342)) = 16.17
Company Value = ∑ (0.1212 / (1 + 4.05) ^ 5) = 0.5029
Price = (Terminal Value + Company Value) / Count shares = (16.17 + 0.5029) / 198880000 = 83.83

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) = 0.2359
FCF Yield = 0.1189
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 = 0.0135
Debt = 0.2686
Market Cap = 0.6408
Weight Debt = Market Cap / (Market Cap + Debt) = 0.6408 / (0.6408 + 0.2686) = 0.7047
Weight Cost Debt = 100% - 0.7047 = 0.2953
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 = 2.13
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 2.13 * 5.94 + 0 = 0.1563
WACC = (0.0135 / 0.2686) * (100% - 0.7047) * (1 - 0.21) + 0.1563 + 0.7047 = 4.05
Terminal Value = Discount (0.2359 * (1 + 0.1189) / (4.05 - 0.1189)) = 2.76
Company Value = ∑ (0.2359 / (1 + 4.05) ^ 5) = 0.8408
Price = (Terminal Value + Company Value) / Count shares = (2.76 + 0.8408) / 198880000 = 18.12