BTMD — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($2.10)
DCF	$18.11	+762.5%
Graham Number	—	—
Reverse DCF	—	implied g: -20.0%
DDM	—	—
EV/EBITDA	$2.47	+17.5%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $36.12M

Near-term growth (yrs 1–5)(%)Rev: -6.7% / EPS: -33.3%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.16%

Computed WACC: 5.16%

Cost of equity (Re)10.63%(Rf 4.30% + β 1.15 × 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)48.57%

Debt weight (D/V)51.43%

Results

Intrinsic Value / share$48.32

Current Price$2.10

Upside / Downside+2201.1%

Net Debt (used)$78.36M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$18.29	$22.51	$27.41	$33.09	$39.62
8.0%	$14.58	$17.97	$21.92	$26.47	$31.71
9.0%	$12.01	$14.84	$18.11	$21.90	$26.24
10.0%	$10.12	$12.53	$15.33	$18.54	$22.24
11.0%	$8.68	$10.77	$13.20	$15.98	$19.18

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.79

Book Value / share($)Yahoo: $-2.37

Results

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

Graham Number—

Current Price$2.10

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.16%

Terminal growth rate(%)

Computed WACC: 5.16%

Cost of equity (Re)10.63%(Rf 4.30% + β 1.15 × 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)48.57%

Debt weight (D/V)51.43%

Results

Current Price$2.10

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth-6.7%

Historical Earnings Growth-33.3%

Base FCF (TTM)$36.12M

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$2.10

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $38.98M

Target EV/EBITDA multipleCurrent: 4.0×

Net Debt($B)Default: $78.36M

Results

Implied Equity Value / share$2.47

Current Price$2.10

Upside / Downside+17.5%

Implied EV$154.07M

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

Mult \ Net Debt	-$1.92B	-$921.64M	$78.36M	$1.08B	$2.08B
-0.0x	$62.57	$29.98	$-2.61	$-35.21	$-67.80
2.0x	$65.11	$32.52	$-0.07	$-32.67	$-65.26
4.0x	$67.65	$35.06	$2.47	$-30.13	$-62.72
6.0x	$70.20	$37.60	$5.01	$-27.58	$-60.18
8.0x	$72.74	$40.14	$7.55	$-25.04	$-57.64

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