BTE

BTE — Valuation Models

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

Valuation Summary

ModelIntrinsic Valuevs Price ($3.98)
DCF$-0.94-123.5%
Graham Number$3.20-19.7%
Reverse DCF
DDM$1.44-63.8%
EV/EBITDA$3.99+0.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: -$88.54M
Rev: — / EPS: —
Default: 9% (no SEC data)

Results

Intrinsic Value / share$-0.94
Current Price$3.98
Upside / Downside-123.5%
Net Debt (used)-$835.12M
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term-3.0%1.0%5.0%9.0%13.0%
7.0%$-0.95$-1.37$-1.85$-2.40$-3.04
8.0%$-0.59$-0.92$-1.31$-1.75$-2.27
9.0%$-0.34$-0.62$-0.94$-1.31$-1.73
10.0%$-0.15$-0.39$-0.66$-0.98$-1.34
11.0%$-0.01$-0.22$-0.45$-0.73$-1.04

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $0.20
Yahoo: $2.27

Results

Graham Number$3.20
Current Price$3.98
Margin of Safety-19.7%
Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

Default: 9% (no SEC data)

Results

Reverse DCF requires positive TTM free cash flow.
Current Price$3.98
Implied Near-term FCF Growth
Historical Revenue Growth
Historical Earnings Growth
Base FCF (TTM)-$88.54M
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

Yahoo: $0.07

Results

DDM Intrinsic Value / share$1.44
Current Price$3.98
Upside / Downside-63.8%
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: $1.50B
Current: 1.5×
Default: -$835.12M

Results

Implied Equity Value / share$3.99
Current Price$3.98
Upside / Downside+0.1%
Implied EV$2.23B
Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)
Mult \ Net Debt-$2.84B-$1.84B-$835.12M$164.88M$1.16B
-2.5x$-1.21$-2.51$-3.82$-5.12$-6.42
-0.5x$2.69$1.39$0.08$-1.22$-2.52
1.5x$6.59$5.29$3.99$2.68$1.38
3.5x$10.49$9.19$7.89$6.58$5.28
5.5x$14.39$13.09$11.79$10.49$9.18