BRLT — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($1.53)
DCF	$19.09	+1147.9%
Graham Number	—	—
Reverse DCF	—	implied g: -20.0%
DDM	$5.15	+236.6%
EV/EBITDA	$5.95	+289.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $10.66M

Near-term growth (yrs 1–5)(%)Rev: 10.4% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.50%

Computed WACC: 9.50%

Cost of equity (Re)12.00%(Rf 4.30% + β 1.40 × 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)79.15%

Debt weight (D/V)20.85%

Results

Intrinsic Value / share$17.81

Current Price$1.53

Upside / Downside+1063.8%

Net Debt (used)-$33.07M

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

WACC \ Near-term	2.4%	6.4%	10.4%	14.4%	18.4%
7.0%	$19.75	$23.18	$27.14	$31.70	$36.92
8.0%	$16.47	$19.21	$22.38	$26.02	$30.18
9.0%	$14.21	$16.48	$19.09	$22.10	$25.53
10.0%	$12.55	$14.48	$16.69	$19.23	$22.13
11.0%	$11.29	$12.95	$14.86	$17.05	$19.55

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.03

Book Value / share($)Yahoo: $0.79

Results

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

Graham Number—

Current Price$1.53

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.50%

Terminal growth rate(%)

Computed WACC: 9.50%

Cost of equity (Re)12.00%(Rf 4.30% + β 1.40 × 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)79.15%

Debt weight (D/V)20.85%

Results

Current Price$1.53

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth10.4%

Historical Earnings Growth—

Base FCF (TTM)$10.66M

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: $0.25

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$5.15

Current Price$1.53

Upside / Downside+236.6%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $3.19M

Target EV/EBITDA multipleCurrent: 17.9×

Net Debt($B)Default: -$33.07M

Results

Implied Equity Value / share$5.95

Current Price$1.53

Upside / Downside+289.0%

Implied EV$57.21M

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

Mult \ Net Debt	-$2.03B	-$1.03B	-$33.07M	$966.93M	$1.97B
13.9x	$136.95	$71.03	$5.11	$-60.81	$-126.73
15.9x	$137.37	$71.45	$5.53	$-60.39	$-126.31
17.9x	$137.79	$71.87	$5.95	$-59.97	$-125.89
19.9x	$138.21	$72.29	$6.37	$-59.55	$-125.47
21.9x	$138.63	$72.71	$6.79	$-59.13	$-125.04

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