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 = -0.0548
CAGR EPS = 7.28%
Key Rate = 0.0364
Excess Key Rate = 2
Price = 0.2542 + (0.2542 * 7.28% / 100) = 0.2727

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) = -0.0192
Ebitda Yield = -0.022
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 = 0.0011
Debt = 0
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0) = 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 = 0.0191
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3.01 + 0.0191 * 5.94 + 0 = 0.0312
WACC = (0.0011 / 0) * (100% - 0) * (1 - 0.21) + 0.0312 + 0 = 0
Terminal Value = Discount (-0.0192 * (1 + -0.022) / (0 - -0.022)) = -0.8568
Company Value = ∑ (-0.0192 / (1 + 0) ^ 5) = -0.1006
Price = (Terminal Value + Company Value) / Count shares = (-0.8568 + -0.1006) / 151700000 = -6.31

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) = -0.0057
FCF Yield = -0.1034
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 = 0.0011
Debt = 0
Market Cap = 0
Weight Debt = Market Cap / (Market Cap + Debt) = 0 / (0 + 0) = 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 = 0.0191
Risk Premium = 5.94
Country Premium = 0
Cost Of Equity = 3.01 + 0.0191 * 5.94 + 0 = 0.0312
WACC = (0.0011 / 0) * (100% - 0) * (1 - 0.21) + 0.0312 + 0 = 0
Terminal Value = Discount (-0.0057 * (1 + -0.1034) / (0 - -0.1034)) = -0.0496
Company Value = ∑ (-0.0057 / (1 + 0) ^ 5) = -0.036
Price = (Terminal Value + Company Value) / Count shares = (-0.0496 + -0.036) / 151700000 = -0.564