NYSE: XPEV - XPeng 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 = -11.92
CAGR EPS = 105.65%
Key Rate = 0.0433
Excess Key Rate = 2
Price = 13.65 + (13.65 * 105.65% / 100) = 28.07

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) = -15.87
Ebitda Yield = 0.1464
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 = 0.2687
Debt = 13.12
Market Cap = 13.49
Weight Debt = Market Cap / (Market Cap + Debt) = 13.49 / (13.49 + 13.12) = 0.5069
Weight Cost Debt = 100% - 0.5069 = 0.4931
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) = 2.75
β = 8.04
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 8.04 * 5.94 + 0 = 0.5049
WACC = (0.2687 / 13.12) * (100% - 0.5069) * (1 - 0.21) + 0.5049 + 0.5069 = 1.87
Terminal Value = Discount (-15.87 * (1 + 0.1464) / (1.87 - 0.1464)) = -129.9
Company Value = ∑ (-15.87 / (1 + 1.87) ^ 5) = -57.94
Price = (Terminal Value + Company Value) / Count shares = (-129.9 + -57.94) / 870460000 = -215.79

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) = -0.4587
FCF Yield = -0.1948
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 = 0.2687
Debt = 13.12
Market Cap = 13.49
Weight Debt = Market Cap / (Market Cap + Debt) = 13.49 / (13.49 + 13.12) = 0.5069
Weight Cost Debt = 100% - 0.5069 = 0.4931
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) = 2.75
β = 8.04
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.75 + 8.04 * 5.94 + 0 = 0.5049
WACC = (0.2687 / 13.12) * (100% - 0.5069) * (1 - 0.21) + 0.5049 + 0.5069 = 1.87
Terminal Value = Discount (-0.4587 * (1 + -0.1948) / (1.87 - -0.1948)) = -1.58
Company Value = ∑ (-0.4587 / (1 + 1.87) ^ 5) = -3.53
Price = (Terminal Value + Company Value) / Count shares = (-1.58 + -3.53) / 870460000 = -5.87