🏷️ 企业估值计算器Business Valuation Calculator
用三种常见方法估算小企业价值：收益倍数法（SDE 或 EBITDA × 行业倍数）、现金流折现法（DCF，含终值）和资产法（资产 − 负债）。Estimate what a small business is worth with three common methods: earnings multiple (SDE or EBITDA × an industry multiple), discounted cash flow (DCF with a terminal value), and asset-based (assets − liabilities).
使用说明与常见问题How-to & FAQ
「企业估值计算器」是什么？What is the Business Valuation Calculator tool?
用三种常见方法估算小企业价值：收益倍数法（SDE 或 EBITDA × 行业倍数）、现金流折现法（DCF，含终值）和资产法（资产 − 负债）。Estimate what a small business is worth with three common methods: earnings multiple (SDE or EBITDA × an industry multiple), discounted cash flow (DCF with a terminal value), and asset-based (assets − liabilities).
如何使用「企业估值计算器」？How do I use the Business Valuation Calculator tool?
在「企业估值计算器」中，填写「估值方法」、「年收益 $（SDE 或 EBITDA）」、「倍数（示例值，按行业调整）」、「第 0 年自由现金流 $」、「预测期年增长率 %」等参数，结果会随输入实时计算并显示在下方。In the Business Valuation Calculator: Fill in "Method", "Yearly earnings $ (SDE or EBITDA)", "Multiple (example — use your industry's)", "Current yearly free cash flow $", "Growth during forecast %"; results are recalculated instantly as you type.
用哪种方法估值？Which method should I use?
盈利稳定的小企业常用收益倍数法；现金流可预测、增长明显的企业适合 DCF；亏损或以资产为主（如持有设备、地产）的企业看资产法。实际交易中常同时参考几种结果。Profitable small businesses are often priced on an earnings multiple; DCF suits businesses with predictable, growing cash flow; loss-making or asset-heavy businesses are better judged on assets. Real deals usually look at several methods.
倍数填多少？What multiple should I use?
默认的 3 只是示例。倍数取决于行业、规模、增长和风险，应参考同行业近期成交或估值报告。The default 3 is only an example. Multiples depend on industry, size, growth and risk; use recent sales of comparable businesses or a valuation report.
DCF 终值怎么算？How is the DCF terminal value found?
用戈登增长模型：终值 = 最后一年现金流 × (1 + 永续增长率) ÷ (折现率 − 永续增长率)，再折现到今天。因此永续增长率必须低于折现率。With the Gordon growth model: terminal value = last forecast cash flow × (1 + terminal growth) ÷ (discount rate − terminal growth), then discounted to today. That is why terminal growth must be below the discount rate.
计算结果可以作为最终依据吗？Can I rely on the result?
「企业估值计算器」按标准公式计算，结果仅供参考；实际金额以银行、券商或税务机关的规则和四舍五入方式为准。The Business Valuation Calculator uses standard formulas and is for estimation only; actual figures depend on your bank, broker or tax authority's rules and rounding.
「企业估值计算器」免费吗？需要注册吗？Is the Business Valuation Calculator free? Do I need an account?
「企业估值计算器」完全免费，无需注册或安装，打开网页即可使用，手机和电脑都能用；输入的内容只在你的浏览器本地处理。The Business Valuation Calculator is completely free with no sign-up or install and works on phones and desktops; what you enter is processed only in your browser.