BNED — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($8.51)
DCF	$9.27	+8.9%
Graham Number	$11.61	+36.4%
Reverse DCF	—	implied g: 6.3%
DDM	—	—
EV/EBITDA	$8.45	-0.7%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $31.32M

Near-term growth (yrs 1–5)(%)Rev: 7.0% / EPS: -55.7%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.94%

Computed WACC: 5.94%

Cost of equity (Re)12.28%(Rf 4.30% + β 1.45 × 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)48.34%

Debt weight (D/V)51.66%

Results

Intrinsic Value / share$25.88

Current Price$8.51

Upside / Downside+204.1%

Net Debt (used)$300.23M

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

WACC \ Near-term	-1.0%	3.0%	7.0%	11.0%	15.0%
7.0%	$9.63	$13.30	$17.56	$22.48	$28.13
8.0%	$6.30	$9.24	$12.66	$16.60	$21.12
9.0%	$3.99	$6.44	$9.27	$12.53	$16.28
10.0%	$2.30	$4.38	$6.79	$9.56	$12.73
11.0%	$1.01	$2.81	$4.90	$7.29	$10.03

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.72

Book Value / share($)Yahoo: $8.32

Results

Graham Number$11.61

Current Price$8.51

Margin of Safety+36.4%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.94%

Terminal growth rate(%)

Computed WACC: 5.94%

Cost of equity (Re)12.28%(Rf 4.30% + β 1.45 × 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)48.34%

Debt weight (D/V)51.66%

Results

Current Price$8.51

Implied Near-term FCF Growth-3.7%

Historical Revenue Growth7.0%

Historical Earnings Growth-55.7%

Base FCF (TTM)$31.32M

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$8.51

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $58.79M

Target EV/EBITDA multipleCurrent: 10.0×

Net Debt($B)Default: $300.23M

Results

Implied Equity Value / share$8.45

Current Price$8.51

Upside / Downside-0.7%

Implied EV$590.03M

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

Mult \ Net Debt	-$1.70B	-$699.77M	$300.23M	$1.30B	$2.30B
6.0x	$59.91	$30.75	$1.59	$-27.57	$-56.73
8.0x	$63.34	$34.18	$5.02	$-24.14	$-53.30
10.0x	$66.77	$37.61	$8.45	$-20.71	$-49.87
12.0x	$70.20	$41.04	$11.88	$-17.28	$-46.44
14.0x	$73.63	$44.47	$15.31	$-13.85	$-43.01

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