BRT — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($14.75)
DCF	$-17.68	-219.9%
Graham Number	—	—
Reverse DCF	—	implied g: 34.6%
DDM	$20.60	+39.7%
EV/EBITDA	$15.51	+5.2%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $8.15M

Near-term growth (yrs 1–5)(%)Rev: -1.6% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 3.34%

Computed WACC: 3.34%

Cost of equity (Re)9.30%(Rf 4.30% + β 0.91 × 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)35.92%

Debt weight (D/V)64.08%

Results

Intrinsic Value / share$33.67

Current Price$14.75

Upside / Downside+128.2%

Net Debt (used)$479.43M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-17.62	$-16.08	$-14.30	$-12.23	$-9.85
8.0%	$-18.97	$-17.73	$-16.30	$-14.64	$-12.73
9.0%	$-19.90	$-18.88	$-17.68	$-16.31	$-14.72
10.0%	$-20.59	$-19.71	$-18.70	$-17.53	$-16.18
11.0%	$-21.12	$-20.35	$-19.47	$-18.46	$-17.30

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.51

Book Value / share($)Yahoo: $9.85

Results

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

Graham Number—

Current Price$14.75

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 3.34%

Terminal growth rate(%)

Computed WACC: 3.34%

Cost of equity (Re)9.30%(Rf 4.30% + β 0.91 × 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)35.92%

Debt weight (D/V)64.08%

Results

Current Price$14.75

Implied Near-term FCF Growth-0.4%

Historical Revenue Growth-1.6%

Historical Earnings Growth—

Base FCF (TTM)$8.15M

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: $1.00

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$20.60

Current Price$14.75

Upside / Downside+39.7%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $38.21M

Target EV/EBITDA multipleCurrent: 20.3×

Net Debt($B)Default: $479.43M

Results

Implied Equity Value / share$15.51

Current Price$14.75

Upside / Downside+5.2%

Implied EV$774.50M

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

Mult \ Net Debt	-$1.52B	-$520.57M	$479.43M	$1.48B	$2.48B
16.3x	$112.63	$60.05	$7.48	$-45.10	$-97.67
18.3x	$116.65	$64.07	$11.50	$-41.08	$-93.65
20.3x	$120.66	$68.09	$15.51	$-37.06	$-89.64
22.3x	$124.68	$72.11	$19.53	$-33.04	$-85.62
24.3x	$128.70	$76.12	$23.55	$-29.03	$-81.60

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