The valuation calculation of Internet companies is usually based on the following factors:

1. Revenue: The revenue of Internet companies is usually one of the main factors in valuation calculation. The higher the revenue, the higher the valuation.

2. Number of users: The number of users of Internet companies is also one of the important factors in valuation calculation. The more users, the higher the valuation.

3. Market share: The market share of Internet companies is another important factor in valuation calculation. If a company has a high market share in a certain market, its valuation may be higher.

4. Profitability: The profitability of Internet companies is also one of the important factors in valuation calculation. If a company can maintain good profitability, its valuation may be higher.

Based on the above factors, the valuation calculation formula of Internet companies is usually calculated using the price-earnings ratio (PE) or the price-to-sales ratio (PS). Among them, the price-earnings ratio is the ratio of a company's stock price to earnings per share, and the price-to-sales ratio is the ratio of a company's stock price to sales per share. Generally speaking, the valuation formula for Internet companies is:

P/E ratio = share price / earnings per share

P/S ratio = share price / sales per share

It should be noted that the valuation formula for Internet companies is not unique, and the specific calculation method and parameters may vary depending on the company's situation. At the same time, valuation calculation is not a one-time thing, and it needs to be regularly evaluated and adjusted in combination with the company's financial statements, market environment and other factors.