BMNR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($19.79)
DCF	$-27.31	-238.0%
Graham Number	—	—
Reverse DCF	—	—
DDM	$0.21	-99.0%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$9.88M

Near-term growth (yrs 1–5)(%)Rev: 90.9% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 12.36%

Computed WACC: 12.36%

Cost of equity (Re)12.36%(Rf 4.30% + β 1.47 × 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)100.00%

Debt weight (D/V)0.00%

Results

Intrinsic Value / share$-13.94

Current Price$19.79

Upside / Downside-170.5%

Net Debt (used)-$887.68M

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

WACC \ Near-term	82.9%	86.9%	90.9%	94.9%	98.9%
7.0%	$-36.69	$-41.08	$-45.87	$-51.08	$-56.73
8.0%	$-27.78	$-31.16	$-34.85	$-38.85	$-43.19
9.0%	$-21.74	$-24.43	$-27.36	$-30.55	$-34.00
10.0%	$-17.40	$-19.60	$-21.99	$-24.59	$-27.41
11.0%	$-14.16	$-15.99	$-17.98	$-20.14	$-22.48

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.93

Book Value / share($)Yahoo: $27.54

Results

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

Graham Number—

Current Price$19.79

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 12.36%

Terminal growth rate(%)

Computed WACC: 12.36%

Cost of equity (Re)12.36%(Rf 4.30% + β 1.47 × 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)100.00%

Debt weight (D/V)0.00%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$19.79

Implied Near-term FCF Growth—

Historical Revenue Growth90.9%

Historical Earnings Growth—

Base FCF (TTM)-$9.88M

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: $0.01

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$0.21

Current Price$19.79

Upside / Downside-99.0%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$234.12M

Target EV/EBITDA multipleCurrent: -35.8×

Net Debt($B)Default: -$887.68M

Results

Implied Equity Value / share$20.40

Current Price$19.79

Upside / Downside+3.1%

Implied EV$8.39B

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