BAND — Valuation Models

Interactive models with editable assumptions. All calculations run client-side.

Valuation Summary

Model	Intrinsic Value	vs Price ($15.11)
DCF	$27.72	+83.5%
Graham Number	—	—
Reverse DCF	—	implied g: -1.3%
DDM	—	—
EV/EBITDA	$16.60	+9.9%

Values reflect default assumptions. Adjust inputs in each model below to update.

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $66.11M

Near-term growth (yrs 1–5)(%)Rev: -1.1% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.30%

Computed WACC: 8.30%

Cost of equity (Re)16.19%(Rf 4.30% + β 2.16 × ERP 5.50%)

Cost of debt (Rd)0.92%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)48.99%

Debt weight (D/V)51.01%

Results

Intrinsic Value / share$32.68

Current Price$15.11

Upside / Downside+116.3%

Net Debt (used)$368.89M

Sensitivity: WACC (rows) × Near-term g (cols)

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$28.07	$36.36	$46.00	$57.16	$70.01
8.0%	$20.78	$27.45	$35.20	$44.15	$54.46
9.0%	$15.72	$21.28	$27.72	$35.16	$43.70
10.0%	$12.01	$16.75	$22.24	$28.57	$35.83
11.0%	$9.17	$13.29	$18.05	$23.53	$29.82

2 — Graham Number

Assumptions

MultiplierGraham used 22.5 (15× P/E × 1.5× P/B)

EPS (trailing)($)Yahoo: $-0.43

Book Value / share($)Yahoo: $12.76

Results

Graham Number requires positive EPS and positive Book Value per share. EPS is zero or negative.

Graham Number—

Current Price$15.11

Margin of Safety—

Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.30%

Terminal growth rate(%)

Computed WACC: 8.30%

Cost of equity (Re)16.19%(Rf 4.30% + β 2.16 × ERP 5.50%)

Cost of debt (Rd)0.92%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)48.99%

Debt weight (D/V)51.01%

Results

Current Price$15.11

Implied Near-term FCF Growth-3.1%

Historical Revenue Growth-1.1%

Historical Earnings Growth—

Base FCF (TTM)$66.11M

Implied growth is the FCF growth rate (yrs 1–5) that makes the DCF intrinsic value equal the current price. Long-term growth is set to half the implied near-term rate.

4 — Dividend Discount Model (DDM)

Assumptions

Annual dividend D0($/share)Yahoo: —

Dividend growth rate (g)(%)

Required return (r)(%)

Results

This company does not pay a dividend. DDM is not applicable — the intrinsic value shown uses D0 = $0 unless you enter a hypothetical dividend above.

DDM Intrinsic Value / share—

Current Price$15.11

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $32.99M

Target EV/EBITDA multipleCurrent: 25.6×

Net Debt($B)Default: $368.89M

Results

Implied Equity Value / share$16.60

Current Price$15.11

Upside / Downside+9.9%

Implied EV$843.15M

Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)

Mult \ Net Debt	-$1.63B	-$631.11M	$368.89M	$1.37B	$2.37B
21.6x	$82.00	$46.99	$11.98	$-23.03	$-58.04
23.6x	$84.31	$49.30	$14.29	$-20.72	$-55.73
25.6x	$86.62	$51.61	$16.60	$-18.41	$-53.42
27.6x	$88.93	$53.92	$18.91	$-16.10	$-51.11
29.6x	$91.24	$56.23	$21.22	$-13.79	$-48.79

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