NYSE: PCOR - Procore Technologies, Inc.

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 = -1.34
CAGR EPS = 12.55%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 73.48 + (73.48 * 12.55% / 100) = 82.69

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) = -0.177
Ebitda Yield = 0.0904
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 = 0.002
Debt = 0.0939
Market Cap = 9.01
Weight Debt = Market Cap / (Market Cap + Debt) = 9.01 / (9.01 + 0.0939) = 0.9897
Weight Cost Debt = 100% - 0.9897 = 0.0103
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 = 4.75
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 4.75 * 5.94 + 0 = 0.3122
WACC = (0.002 / 0.0939) * (100% - 0.9897) * (1 - 0.21) + 0.3122 + 0.9897 = 1.94
Terminal Value = Discount (-0.177 * (1 + 0.0904) / (1.94 - 0.0904)) = -2.47
Company Value = ∑ (-0.177 / (1 + 1.94) ^ 5) = -0.7059
Price = (Terminal Value + Company Value) / Count shares = (-2.47 + -0.7059) / 141960000 = -22.36

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) = 0.1262
FCF Yield = 0.2184
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 = 0.002
Debt = 0.0939
Market Cap = 9.01
Weight Debt = Market Cap / (Market Cap + Debt) = 9.01 / (9.01 + 0.0939) = 0.9897
Weight Cost Debt = 100% - 0.9897 = 0.0103
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 = 4.75
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3 + 4.75 * 5.94 + 0 = 0.3122
WACC = (0.002 / 0.0939) * (100% - 0.9897) * (1 - 0.21) + 0.3122 + 0.9897 = 1.94
Terminal Value = Discount (0.1262 * (1 + 0.2184) / (1.94 - 0.2184)) = 0.702
Company Value = ∑ (0.1262 / (1 + 1.94) ^ 5) = 0.4142
Price = (Terminal Value + Company Value) / Count shares = (0.702 + 0.4142) / 141960000 = 7.86