Price = Avg Price + (Avg Price * CAGR EPS% / 100)
EPS = Earning Per Share
CAGR EPS = CAGR 5 EPS
Key Rate — 关键率
Excess Key Rate — 超出关键率的期望
EPS = 0.7787
CAGR EPS = 81.57%
Key Rate = 0.0364
Excess Key Rate = 2
Price = 7.71 + (7.71 * 81.57% / 100) = 14

Price = (Terminal Value + Company Value) / Count shares
Price - 合理的价格
Terminal Value — 邮政过程中的费用
Company Value — 预测期内的成本
Count shares - 股票数量
Terminal Value = Discount Ebitda(5) * (1 + Ebitda Yield) / (WACC - Ebitda Yield)
Company Value = ∑ (Discount Ebitda / (1 + WACC) ^ 5)
Discount Ebitda(5) = 1.46
Ebitda Yield = 0.0816
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - 债务服务
Debt - 债务，十亿
Weight Debt - 相对于债务的重量
Weight Cost Debt - 债务权重有关大写
Tax - 税
Interest Expense = 0
Debt = 0
Market Cap = 2.74
Weight Debt = Market Cap / (Market Cap + Debt) = 2.74 / (2.74 + 0) = 0
Weight Cost Debt = 100% - 0 = 1
Tax = 0.21
Cost Of Equity — 贴现率
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — 盈利能力
β (beta) — 确定与市场有关的股份（资产）风险（资产），并显示了与市场收益变化有关的行动盈利能力变化的敏感性。 Beta系数不仅可以针对单独的操作计算，还可以计算投资组合。
Risk Premium — 高级风险 - 投资诉讼风险的奖励
Country Premium - 国家风险
k(f) = 2.68
β = -3.46
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.68 + -3.46 * 5.94 + 0 = -0.1784
WACC = (0 / 0) * (100% - 0) * (1 - 0.21) + -0.1784 + 0 = 0
Terminal Value = Discount (1.46 * (1 + 0.0816) / (0 - 0.0816)) = 19.34
Company Value = ∑ (1.46 / (1 + 0) ^ 5) = 6.28
Price = (Terminal Value + Company Value) / Count shares = (19.34 + 6.28) / 426750000 = 60.02

Price = (Terminal Value + Company Value) / Count shares
Price - 合理的价格
Terminal Value — 邮政过程中的费用
Company Value — 预测期内的成本
Count shares - 股票数量
Terminal Value = Discount FCF(5) * (1 + FCF Yield) / (WACC - FCF Yield)
Company Value = ∑ (Discount FCF / (1 + WACC) ^ 5)
Discount FCF(5) = 0.7472
FCF Yield = -1.84
WACC = (Interest Expense / Debt) * (Weight Cost Debt) * (1 - Tax) + Cost Of Equity * Weight Debt
Interest Expense - 债务服务
Debt - 债务，十亿
Weight Debt - 相对于债务的重量
Weight Cost Debt - 债务权重有关大写
Tax - 税
Interest Expense = 0
Debt = 0
Market Cap = 2.74
Weight Debt = Market Cap / (Market Cap + Debt) = 2.74 / (2.74 + 0) = 0
Weight Cost Debt = 100% - 0 = 1
Tax = 0.21
Cost Of Equity — 贴现率
Cost Of Equity = k(f) + β * Risk Premium + Country Premium (Damodaran table)
k(f) — 盈利能力
β (beta) — 确定与市场有关的股份（资产）风险（资产），并显示了与市场收益变化有关的行动盈利能力变化的敏感性。 Beta系数不仅可以针对单独的操作计算，还可以计算投资组合。
Risk Premium — 高级风险 - 投资诉讼风险的奖励
Country Premium - 国家风险
k(f) = 2.68
β = -3.46
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.68 + -3.46 * 5.94 + 0 = -0.1784
WACC = (0 / 0) * (100% - 0) * (1 - 0.21) + -0.1784 + 0 = 0
Terminal Value = Discount (0.7472 * (1 + -1.84) / (0 - -1.84)) = -0.341
Company Value = ∑ (0.7472 / (1 + 0) ^ 5) = 1.16
Price = (Terminal Value + Company Value) / Count shares = (-0.341 + 1.16) / 426750000 = 1.92