DAWN — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($10.37)
DCF	$-599.35	-5879.7%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$61.96M

Near-term growth (yrs 1–5)(%)Rev: 83.9% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: -2.65%

Computed WACC: -2.65%

Cost of equity (Re)-2.66%(Rf 4.30% + β -1.26 × 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)99.74%

Debt weight (D/V)0.26%

Results

Intrinsic Value / share—

Current Price$10.37

Upside / Downside—

Net Debt (used)-$438.32M

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

WACC \ Near-term	75.9%	79.9%	83.9%	87.9%	91.9%
7.0%	$-781.01	$-873.99	$-975.60	$-1086.41	$-1207.05
8.0%	$-601.15	$-672.74	$-750.97	$-836.28	$-929.15
9.0%	$-478.96	$-536.02	$-598.37	$-666.36	$-740.37
10.0%	$-391.20	$-437.83	$-488.78	$-544.33	$-604.79
11.0%	$-325.58	$-364.42	$-406.84	$-453.10	$-503.44

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.52

Book Value / share($)Yahoo: $4.28

Results

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

Graham Number—

Current Price$10.37

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: -2.65%

Terminal growth rate(%)

Computed WACC: -2.65%

Cost of equity (Re)-2.66%(Rf 4.30% + β -1.26 × 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)99.74%

Debt weight (D/V)0.26%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$10.37

Implied Near-term FCF Growth—

Historical Revenue Growth83.9%

Historical Earnings Growth—

Base FCF (TTM)-$61.96M

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$10.37

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$124.27M

Target EV/EBITDA multipleCurrent: -5.1×

Net Debt($B)Default: -$438.32M

Results

Implied Equity Value / share$10.43

Current Price$10.37

Upside / Downside+0.6%

Implied EV$632.93M

← Overview Financial Statements ← Companies