This calculator estimates what Didi will need to do to justify being worth $100 billion.

The first input is the target valuation.

The second input is the enterprise value, which can then be pegged to either of two rivals’ 2021 forecast multiples. The choices are U.S. peer Uber, which trades at six times EBITDA based on the average analyst forecast from Refinitiv, and Southeast Asia’s Grab, which is valued at 13 times it own estimate for this year’s adjusted net revenue.

Platform sales on Didi are defined as gross transaction value minus all of the earnings and incentives paid to drivers and partners, as well as tolls, fees, taxes and others.

Revenue for Uber is defined as the total dollar value, including any applicable taxes, tolls, and fees, net of driver and merchant earnings and driver incentives.

Grab’s adjusted net revenue is defined broadly as gross billings minus base incentives paid to Grab drivers and merchants.

All definitions are from companies’ filings.

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