NASDAQ: VIVE - Viveve Medical

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 = -2.83
CAGR EPS = 8.66%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0.00015 + (0.00015 * 8.66% / 100) = 0.000163

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) = -0.0109
Ebitda Yield = -0.1171
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 = 0.0011
Debt = 0.006
Market Cap = 3.8E-5
Weight Debt = Market Cap / (Market Cap + Debt) = 3.8E-5 / (3.8E-5 + 0.006) = 0.0063
Weight Cost Debt = 100% - 0.0063 = 0.9937
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) = 2.82
β = 4.7
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 4.7 * 5.94 + 0 = 0.3075
WACC = (0.0011 / 0.006) * (100% - 0.0063) * (1 - 0.21) + 0.3075 + 0.0063 = 14.48
Terminal Value = Discount (-0.0109 * (1 + -0.1171) / (14.48 - -0.1171)) = -0.0188
Company Value = ∑ (-0.0109 / (1 + 14.48) ^ 5) = -0.05
Price = (Terminal Value + Company Value) / Count shares = (-0.0188 + -0.05) / 10700000 = -6.43

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) = -0.0077
FCF Yield = -0.1437
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 = 0.0011
Debt = 0.006
Market Cap = 3.8E-5
Weight Debt = Market Cap / (Market Cap + Debt) = 3.8E-5 / (3.8E-5 + 0.006) = 0.0063
Weight Cost Debt = 100% - 0.0063 = 0.9937
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) = 2.82
β = 4.7
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.82 + 4.7 * 5.94 + 0 = 0.3075
WACC = (0.0011 / 0.006) * (100% - 0.0063) * (1 - 0.21) + 0.3075 + 0.0063 = 14.48
Terminal Value = Discount (-0.0077 * (1 + -0.1437) / (14.48 - -0.1437)) = -0.0117
Company Value = ∑ (-0.0077 / (1 + 14.48) ^ 5) = -0.0382
Price = (Terminal Value + Company Value) / Count shares = (-0.0117 + -0.0382) / 10700000 = -4.66