1. First of all, we should choose a listed company that is comparable to or can refer to non-listed companies in the same industry.

2. Secondly, according to the stock price and financial data of similar companies, calculate the main financial ratio.

3. Finally, these ratios are used as market price multipliers to infer the value of the target company, such as P/E (P/E ratio, price/profit) and P/S method (price/sales).