NASDAQ: SRRK - Scholar Rock Holding Corporation

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 = -1.99
CAGR EPS = 1.46%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 28.87 + (28.87 * 1.46% / 100) = 29.29

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) = -0.4576
Ebitda Yield = 0.2212
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 = 0.0029
Debt = 0.0574
Market Cap = 0.3616
Weight Debt = Market Cap / (Market Cap + Debt) = 0.3616 / (0.3616 + 0.0574) = 0.863
Weight Cost Debt = 100% - 0.863 = 0.137
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 = 41.41
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 41.41 * 5.94 + 0 = 2.49
WACC = (0.0029 / 0.0574) * (100% - 0.863) * (1 - 0.21) + 2.49 + 0.863 = 6.1
Terminal Value = Discount (-0.4576 * (1 + 0.2212) / (6.1 - 0.2212)) = -2.59
Company Value = ∑ (-0.4576 / (1 + 6.1) ^ 5) = -1.31
Price = (Terminal Value + Company Value) / Count shares = (-2.59 + -1.31) / 83350000 = -46.84

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) = -0.2758
FCF Yield = 0.1368
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 = 0.0029
Debt = 0.0574
Market Cap = 0.3616
Weight Debt = Market Cap / (Market Cap + Debt) = 0.3616 / (0.3616 + 0.0574) = 0.863
Weight Cost Debt = 100% - 0.863 = 0.137
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 = 41.41
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.89 + 41.41 * 5.94 + 0 = 2.49
WACC = (0.0029 / 0.0574) * (100% - 0.863) * (1 - 0.21) + 2.49 + 0.863 = 6.1
Terminal Value = Discount (-0.2758 * (1 + 0.1368) / (6.1 - 0.1368)) = -3.08
Company Value = ∑ (-0.2758 / (1 + 6.1) ^ 5) = -0.8977
Price = (Terminal Value + Company Value) / Count shares = (-3.08 + -0.8977) / 83350000 = -47.7