BSET — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($14.71)
DCF	$11.76	-20.1%
Graham Number	$17.34	+17.8%
Reverse DCF	—	implied g: 8.1%
DDM	$16.48	+12.0%
EV/EBITDA	$14.89	+1.2%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $7.47M

Near-term growth (yrs 1–5)(%)Rev: 5.1% / EPS: -54.2%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.51%

Computed WACC: 5.51%

Cost of equity (Re)9.36%(Rf 4.30% + β 0.92 × 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)58.84%

Debt weight (D/V)41.16%

Results

Intrinsic Value / share$29.60

Current Price$14.71

Upside / Downside+101.2%

Net Debt (used)$30.15M

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

WACC \ Near-term	-2.9%	1.1%	5.1%	9.1%	13.1%
7.0%	$11.87	$14.97	$18.58	$22.75	$27.56
8.0%	$9.13	$11.63	$14.53	$17.88	$21.74
9.0%	$7.24	$9.32	$11.73	$14.51	$17.71
10.0%	$5.85	$7.62	$9.68	$12.04	$14.76
11.0%	$4.79	$6.33	$8.11	$10.16	$12.51

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.70

Book Value / share($)Yahoo: $19.09

Results

Graham Number$17.34

Current Price$14.71

Margin of Safety+17.8%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.51%

Terminal growth rate(%)

Computed WACC: 5.51%

Cost of equity (Re)9.36%(Rf 4.30% + β 0.92 × 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)58.84%

Debt weight (D/V)41.16%

Results

Current Price$14.71

Implied Near-term FCF Growth-3.9%

Historical Revenue Growth5.1%

Historical Earnings Growth-54.2%

Base FCF (TTM)$7.47M

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: $0.80

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$16.48

Current Price$14.71

Upside / Downside+12.0%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $16.87M

Target EV/EBITDA multipleCurrent: 9.4×

Net Debt($B)Default: $30.15M

Results

Implied Equity Value / share$14.89

Current Price$14.71

Upside / Downside+1.2%

Implied EV$159.01M

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

Mult \ Net Debt	-$1.97B	-$969.85M	$30.15M	$1.03B	$2.03B
5.4x	$238.19	$122.64	$7.09	$-108.45	$-224.00
7.4x	$242.09	$126.54	$10.99	$-104.56	$-220.11
9.4x	$245.99	$130.44	$14.89	$-100.66	$-216.21
11.4x	$249.88	$134.34	$18.79	$-96.76	$-212.31
13.4x	$253.78	$138.23	$22.69	$-92.86	$-208.41

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