NYSE: HEAR - Turtle Beach 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 = -1.03
CAGR EPS = -197.96%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 0 + (0 * -197.96% / 100) = 11.67

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) = 0.000546
Ebitda Yield = -1.54
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 = 0.000504
Debt = 0.0077
Market Cap = 0.1909
Weight Debt = Market Cap / (Market Cap + Debt) = 0.1909 / (0.1909 + 0.0077) = 0.9611
Weight Cost Debt = 100% - 0.9611 = 0.0389
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) = 3
β = 2.77
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 2.77 * 5.94 + 0 = 0.1946
WACC = (0.000504 / 0.0077) * (100% - 0.9611) * (1 - 0.21) + 0.1946 + 0.9611 = 5.29
Terminal Value = Discount (0.000546 * (1 + -1.54) / (5.29 - -1.54)) = -0.000143
Company Value = ∑ (0.000546 / (1 + 5.29) ^ 5) = 0.0042
Price = (Terminal Value + Company Value) / Count shares = (-0.000143 + 0.0042) / 17140000 = 0.237

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) = 0.018
FCF Yield = -0.0628
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 = 0.000504
Debt = 0.0077
Market Cap = 0.1909
Weight Debt = Market Cap / (Market Cap + Debt) = 0.1909 / (0.1909 + 0.0077) = 0.9611
Weight Cost Debt = 100% - 0.9611 = 0.0389
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) = 3
β = 2.77
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 2.77 * 5.94 + 0 = 0.1946
WACC = (0.000504 / 0.0077) * (100% - 0.9611) * (1 - 0.21) + 0.1946 + 0.9611 = 5.29
Terminal Value = Discount (0.018 * (1 + -0.0628) / (5.29 - -0.0628)) = 0.1126
Company Value = ∑ (0.018 / (1 + 5.29) ^ 5) = 0.0889
Price = (Terminal Value + Company Value) / Count shares = (0.1126 + 0.0889) / 17140000 = 11.76