BUR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($8.73)
DCF	$0.47	-94.6%
Graham Number	$8.39	-3.9%
Reverse DCF	—	implied g: 18.1%
DDM	$2.68	-69.3%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $90.45M

Near-term growth (yrs 1–5)(%)Rev: -75.3% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.76%

Computed WACC: 7.76%

Cost of equity (Re)9.82%(Rf 4.30% + β 1.00 × ERP 5.50%)

Cost of debt (Rd)7.51%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)47.16%

Debt weight (D/V)52.84%

Results

Intrinsic Value / share$2.20

Current Price$8.73

Upside / Downside-74.8%

Net Debt (used)$1.49B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$0.53	$2.01	$3.73	$5.73	$8.02
8.0%	$-0.77	$0.42	$1.80	$3.40	$5.24
9.0%	$-1.67	$-0.68	$0.47	$1.80	$3.32
10.0%	$-2.33	$-1.49	$-0.51	$0.62	$1.92
11.0%	$-2.84	$-2.11	$-1.26	$-0.28	$0.84

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.28

Book Value / share($)Yahoo: $11.18

Results

Graham Number$8.39

Current Price$8.73

Margin of Safety-3.9%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.76%

Terminal growth rate(%)

Computed WACC: 7.76%

Cost of equity (Re)9.82%(Rf 4.30% + β 1.00 × ERP 5.50%)

Cost of debt (Rd)7.51%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)47.16%

Debt weight (D/V)52.84%

Results

Current Price$8.73

Implied Near-term FCF Growth14.1%

Historical Revenue Growth-75.3%

Historical Earnings Growth—

Base FCF (TTM)$90.45M

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: $0.13

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$2.68

Current Price$8.73

Upside / Downside-69.3%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: $1.49B

Results

Implied Equity Value / share$-6.78

Current Price$8.73

Upside / Downside-177.7%

Implied EV$0

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