DBI — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($6.77)
DCF	$351.41	+5090.7%
Graham Number	—	—
Reverse DCF	—	implied g: 3.5%
DDM	$4.12	-39.1%
EV/EBITDA	$8.63	+27.5%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $95.56M

Near-term growth (yrs 1–5)(%)Rev: -3.2% / EPS: 45.8%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 1.96%

Computed WACC: 1.96%

Cost of equity (Re)9.56%(Rf 4.30% + β 0.96 × 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)20.50%

Debt weight (D/V)79.50%

Results

Intrinsic Value / share—

Current Price$6.77

Upside / Downside—

Net Debt (used)$1.25B

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

WACC \ Near-term	37.8%	41.8%	45.8%	49.8%	53.8%
7.0%	$426.35	$495.28	$572.36	$658.29	$753.83
8.0%	$327.28	$380.99	$441.05	$507.99	$582.39
9.0%	$259.63	$302.97	$351.41	$405.38	$465.36
10.0%	$210.78	$246.62	$286.68	$331.30	$380.87
11.0%	$174.02	$204.24	$238.00	$275.59	$317.34

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.46

Book Value / share($)Yahoo: $6.02

Results

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

Graham Number—

Current Price$6.77

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 1.96%

Terminal growth rate(%)

Computed WACC: 1.96%

Cost of equity (Re)9.56%(Rf 4.30% + β 0.96 × 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)20.50%

Debt weight (D/V)79.50%

Results

Current Price$6.77

Implied Near-term FCF Growth65.0%

Historical Revenue Growth-3.2%

Historical Earnings Growth45.8%

Base FCF (TTM)$95.56M

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: $0.20

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$4.12

Current Price$6.77

Upside / Downside-39.1%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $90.32M

Target EV/EBITDA multipleCurrent: 17.9×

Net Debt($B)Default: $1.25B

Results

Implied Equity Value / share$8.63

Current Price$6.77

Upside / Downside+27.5%

Implied EV$1.61B

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

Mult \ Net Debt	$1.25B	$1.25B	$1.25B	$1.25B	$1.25B
13.9x	$0.01	$0.01	$0.01	$0.01	$0.01
15.9x	$4.32	$4.32	$4.32	$4.32	$4.32
17.9x	$8.63	$8.63	$8.63	$8.63	$8.63
19.9x	$12.94	$12.94	$12.94	$12.94	$12.94
21.9x	$17.25	$17.25	$17.25	$17.25	$17.25

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