BTM — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($4.81)
DCF	$125.88	+2517.1%
Graham Number	$6.91	+43.6%
Reverse DCF	—	implied g: -20.0%
DDM	—	—
EV/EBITDA	$9.72	+102.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $16.52M

Near-term growth (yrs 1–5)(%)Rev: 20.1% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 3.80%

Computed WACC: 3.80%

Cost of equity (Re)9.06%(Rf 4.30% + β 0.87 × 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)41.89%

Debt weight (D/V)58.11%

Results

Intrinsic Value / share$730.51

Current Price$4.81

Upside / Downside+15087.4%

Net Debt (used)$12.89M

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

WACC \ Near-term	12.1%	16.1%	20.1%	24.1%	28.1%
7.0%	$137.59	$163.07	$192.23	$225.44	$263.12
8.0%	$109.78	$129.97	$153.04	$179.30	$209.08
9.0%	$90.66	$107.21	$126.11	$147.60	$171.97
10.0%	$76.75	$90.65	$106.52	$124.55	$144.98
11.0%	$66.19	$78.09	$91.66	$107.08	$124.53

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.12

Book Value / share($)Yahoo: $1.89

Results

Graham Number$6.91

Current Price$4.81

Margin of Safety+43.6%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 3.80%

Terminal growth rate(%)

Computed WACC: 3.80%

Cost of equity (Re)9.06%(Rf 4.30% + β 0.87 × 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)41.89%

Debt weight (D/V)58.11%

Results

Current Price$4.81

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth20.1%

Historical Earnings Growth—

Base FCF (TTM)$16.52M

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$4.81

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $63.72M

Target EV/EBITDA multipleCurrent: 1.0×

Net Debt($B)Default: $12.89M

Results

Implied Equity Value / share$9.72

Current Price$4.81

Upside / Downside+102.1%

Implied EV$65.44M

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

Mult \ Net Debt	-$1.99B	-$987.11M	$12.89M	$1.01B	$2.01B
-3.0x	$332.50	$147.54	$-37.42	$-222.38	$-407.34
-1.0x	$356.07	$171.11	$-13.85	$-198.81	$-383.77
1.0x	$379.64	$194.68	$9.72	$-175.24	$-360.20
3.0x	$403.21	$218.25	$33.29	$-151.67	$-336.63
5.0x	$426.78	$241.82	$56.86	$-128.10	$-313.06

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