BRZE — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($19.48)
DCF	$85.89	+340.9%
Graham Number	—	—
Reverse DCF	—	implied g: -2.2%
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: $165.20M

Near-term growth (yrs 1–5)(%)Rev: 25.5% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.86%

Computed WACC: 9.86%

Cost of equity (Re)10.20%(Rf 4.30% + β 1.07 × 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)96.61%

Debt weight (D/V)3.39%

Results

Intrinsic Value / share$74.55

Current Price$19.48

Upside / Downside+282.7%

Net Debt (used)-$299.32M

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

WACC \ Near-term	17.5%	21.5%	25.5%	29.5%	33.5%
7.0%	$95.62	$111.89	$130.41	$151.39	$175.08
8.0%	$76.67	$89.50	$104.09	$120.62	$139.27
9.0%	$63.67	$74.14	$86.04	$99.51	$114.71
10.0%	$54.22	$62.98	$72.94	$84.20	$96.89
11.0%	$47.07	$54.54	$63.02	$72.61	$83.42

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.10

Book Value / share($)Yahoo: $5.40

Results

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

Graham Number—

Current Price$19.48

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.86%

Terminal growth rate(%)

Computed WACC: 9.86%

Cost of equity (Re)10.20%(Rf 4.30% + β 1.07 × 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)96.61%

Debt weight (D/V)3.39%

Results

Current Price$19.48

Implied Near-term FCF Growth-0.2%

Historical Revenue Growth25.5%

Historical Earnings Growth—

Base FCF (TTM)$165.20M

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$19.48

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$114.07M

Target EV/EBITDA multipleCurrent: -15.7×

Net Debt($B)Default: -$299.32M

Results

Implied Equity Value / share$18.55

Current Price$19.48

Upside / Downside-4.8%

Implied EV$1.79B

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