NASDAQ: SSYS - Stratasys Ltd.

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 = -1.79
CAGR EPS = 55.59%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 10.3 + (10.3 * 55.59% / 100) = 16.02

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) = 0.0024
Ebitda Yield = -1.58
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 = 0.000229
Debt = 0.0187
Market Cap = 1.02
Weight Debt = Market Cap / (Market Cap + Debt) = 1.02 / (1.02 + 0.0187) = 0.982
Weight Cost Debt = 100% - 0.982 = 0.018
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 = 0.3269
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 0.3269 * 5.94 + 0 = 0.0469
WACC = (0.000229 / 0.0187) * (100% - 0.982) * (1 - 0.21) + 0.0469 + 0.982 = 1.01
Terminal Value = Discount (0.0024 * (1 + -1.58) / (1.01 - -1.58)) = -0.00085
Company Value = ∑ (0.0024 / (1 + 1.01) ^ 5) = 0.0139
Price = (Terminal Value + Company Value) / Count shares = (-0.00085 + 0.0139) / 68670000 = 0.1902

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) = -0.14
FCF Yield = 0.128
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 = 0.000229
Debt = 0.0187
Market Cap = 1.02
Weight Debt = Market Cap / (Market Cap + Debt) = 1.02 / (1.02 + 0.0187) = 0.982
Weight Cost Debt = 100% - 0.982 = 0.018
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 = 0.3269
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 0.3269 * 5.94 + 0 = 0.0469
WACC = (0.000229 / 0.0187) * (100% - 0.982) * (1 - 0.21) + 0.0469 + 0.982 = 1.01
Terminal Value = Discount (-0.14 * (1 + 0.128) / (1.01 - 0.128)) = -1.27
Company Value = ∑ (-0.14 / (1 + 1.01) ^ 5) = -0.5405
Price = (Terminal Value + Company Value) / Count shares = (-1.27 + -0.5405) / 68670000 = -26.42