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 = -2.79
CAGR EPS = 7.28%
Key Rate = 0.0364
Excess Key Rate = 2
Price = 8.24 + (8.24 * 7.28% / 100) = 8.84

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) = 0.000232
Ebitda Yield = -1.39
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 = 0.1864
Debt = 5.56
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 5.56) = 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) = 3.01
β = -2.26
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3.01 + -2.26 * 5.94 + 0 = -0.1041
WACC = (0.1864 / 5.56) * (100% - 0) * (1 - 0.21) + -0.1041 + 0 = 2.65
Terminal Value = Discount (0.000232 * (1 + -1.39) / (2.65 - -1.39)) = -5.6E-5
Company Value = ∑ (0.000232 / (1 + 2.65) ^ 5) = 0.0073
Price = (Terminal Value + Company Value) / Count shares = (-5.6E-5 + 0.0073) / 157420000 = 0.0459

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) = 0.7063
FCF Yield = -0.0326
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 = 0.1864
Debt = 5.56
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 5.56) = 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) = 3.01
β = -2.26
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3.01 + -2.26 * 5.94 + 0 = -0.1041
WACC = (0.1864 / 5.56) * (100% - 0) * (1 - 0.21) + -0.1041 + 0 = 2.65
Terminal Value = Discount (0.7063 * (1 + -0.0326) / (2.65 - -0.0326)) = 10.15
Company Value = ∑ (0.7063 / (1 + 2.65) ^ 5) = 3.5
Price = (Terminal Value + Company Value) / Count shares = (10.15 + 3.5) / 157420000 = 86.74