PDD's Discounted EPS ROIC_CICC Value
Subject : PDD’s Discounted EPS ROIC_CICC Value
.
PDD
.
FY2025 (12 months)
.
Non-Gaap EPS
= USD 10.3507581966
.
ROIC
= 100 × Net Income ÷ (Total Equity + Total Debts)
= 25.5305840264
.
D/E
= (2,498,643+2,880,152)÷414,907,086
= 0.0129638543
.
CICC Factor
= Clean Invested Capital Cost Factor
= 30Y Government Bond Yield Factor × ( 1 + D/E × (1 + 2 x 30Y Government Bond Yield Ratio) ) ÷ (1 + D/E)
= 1.04982×(1+0.0129638543×(1+2×0.04982))÷(1+0.0129638543)
= 1.0511587169
.
CICC Ratio
= CICC Factor - 1
= 0.0511587169
.
CICC
= 100 × CICC Ratio
= 5.11587169
.
(A)
PDD’s Discounted EPS ROIC_CICC Value
=
Front Runway Period Value
+
Rear Runway Period Value
=
EPS × CICC
+
EPS × (1÷CICC Factor)×(1-(1÷CICC Factor)^(roic-cicc))÷(1-1÷CICC Factor)
=
10.3507581966×5.11587169
+
10.3507581966×(1÷1.0511587169)×(1-(1÷1.0511587169)^(25.5305840264-5.11587169))÷(1-1÷1.0511587169)
= 52.953150828 + 129.2628813874
= USD 182.2160322154
.
Reference :