BKKT — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($9.96)
DCF	$-15.79	-258.5%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$7.41M

Near-term growth (yrs 1–5)(%)Rev: 27.1% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 35.25%

Computed WACC: 35.25%

Cost of equity (Re)36.97%(Rf 4.30% + β 5.94 × ERP 5.50%)

Cost of debt (Rd)0.00%(no debt / unavailable → 0%)

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

Equity weight (E/V)95.35%

Debt weight (D/V)4.65%

Results

Intrinsic Value / share$-0.06

Current Price$9.96

Upside / Downside-100.6%

Net Debt (used)-$53.11M

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

WACC \ Near-term	19.1%	23.1%	27.1%	31.1%	35.1%
7.0%	$-18.00	$-21.47	$-25.42	$-29.88	$-34.91
8.0%	$-13.89	$-16.62	$-19.72	$-23.23	$-27.19
9.0%	$-11.06	$-13.29	$-15.82	$-18.68	$-21.90
10.0%	$-9.01	$-10.87	$-12.99	$-15.37	$-18.06
11.0%	$-7.46	$-9.05	$-10.84	$-12.88	$-15.16

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-5.71

Book Value / share($)Yahoo: $6.95

Results

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

Graham Number—

Current Price$9.96

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 35.25%

Terminal growth rate(%)

Computed WACC: 35.25%

Cost of equity (Re)36.97%(Rf 4.30% + β 5.94 × ERP 5.50%)

Cost of debt (Rd)0.00%(no debt / unavailable → 0%)

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

Equity weight (E/V)95.35%

Debt weight (D/V)4.65%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$9.96

Implied Near-term FCF Growth—

Historical Revenue Growth27.1%

Historical Earnings Growth—

Base FCF (TTM)-$7.41M

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$9.96

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$70.26M

Target EV/EBITDA multipleCurrent: -2.9×

Net Debt($B)Default: -$53.11M

Results

Implied Equity Value / share$9.84

Current Price$9.96

Upside / Downside-1.2%

Implied EV$200.46M

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