NYSE: ZETA - Zeta Global Holdings Corp.

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 = -1.2
CAGR EPS = 20.55%
Key Rate = 0.0458
Excess Key Rate = 2
Price = 19.98 + (19.98 * 20.55% / 100) = 24.09

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) = 0.1475
Ebitda Yield = -2.05
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 = 0.0109
Debt = 0.1841
Market Cap = 1.64
Weight Debt = Market Cap / (Market Cap + Debt) = 1.64 / (1.64 + 0.1841) = 0.8991
Weight Cost Debt = 100% - 0.8991 = 0.1009
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) = 2.6
β = 8.47
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 8.47 * 5.94 + 0 = 0.5294
WACC = (0.0109 / 0.1841) * (100% - 0.8991) * (1 - 0.21) + 0.5294 + 0.8991 = 5.13
Terminal Value = Discount (0.1475 * (1 + -2.05) / (5.13 - -2.05)) = -0.0575
Company Value = ∑ (0.1475 / (1 + 5.13) ^ 5) = 0.1143
Price = (Terminal Value + Company Value) / Count shares = (-0.0575 + 0.1143) / 156700000 = 0.3626

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) = 0.2676
FCF Yield = 0.3745
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 = 0.0109
Debt = 0.1841
Market Cap = 1.64
Weight Debt = Market Cap / (Market Cap + Debt) = 1.64 / (1.64 + 0.1841) = 0.8991
Weight Cost Debt = 100% - 0.8991 = 0.1009
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) = 2.6
β = 8.47
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 2.6 + 8.47 * 5.94 + 0 = 0.5294
WACC = (0.0109 / 0.1841) * (100% - 0.8991) * (1 - 0.21) + 0.5294 + 0.8991 = 5.13
Terminal Value = Discount (0.2676 * (1 + 0.3745) / (5.13 - 0.3745)) = 0.8863
Company Value = ∑ (0.2676 / (1 + 5.13) ^ 5) = 0.6543
Price = (Terminal Value + Company Value) / Count shares = (0.8863 + 0.6543) / 156700000 = 9.83