DEC

DEC — Valuation Models

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

Valuation Summary

ModelIntrinsic Valuevs Price ($13.76)
DCF$117569.11+854326.7%
Graham Number
Reverse DCFimplied g: -5.3%
DDM$23.90+73.7%
EV/EBITDA$13.98+1.6%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: $416.09M
Rev: 167.0% / EPS: —
Default: 9% (no SEC data)

Results

Intrinsic Value / share$117569.11
Current Price$13.76
Upside / Downside+854326.7%
Net Debt (used)$2.92B
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term159.0%163.0%167.0%171.0%175.0%
7.0%$168044.27$181422.80$195640.10$210735.02$226747.56
8.0%$128043.02$138235.97$149067.89$160568.38$172767.92
9.0%$100988.34$109026.80$117569.11$126638.60$136259.31
10.0%$81652.03$88150.70$95056.65$102388.74$110166.39
11.0%$67270.50$72623.98$78312.93$84352.87$90759.79

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $-2.66
Yahoo: $12.76

Results

Graham Number requires positive EPS and positive Book Value per share. EPS is zero or negative.
Graham Number
Current Price$13.76
Margin of Safety
Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

Default: 9% (no SEC data)

Results

Current Price$13.76
Implied Near-term FCF Growth-5.3%
Historical Revenue Growth167.0%
Historical Earnings Growth
Base FCF (TTM)$416.09M
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

Yahoo: $1.16

Results

DDM Intrinsic Value / share$23.90
Current Price$13.76
Upside / Downside+73.7%
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: $926.03M
Current: 4.3×
Default: $2.92B

Results

Implied Equity Value / share$13.98
Current Price$13.76
Upside / Downside+1.6%
Implied EV$3.99B
Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)
Mult \ Net Debt$922.32M$1.92B$2.92B$3.92B$4.92B
0.3x$-8.25$-21.29$-34.33$-47.37$-60.42
2.3x$15.91$2.86$-10.18$-23.22$-36.26
4.3x$40.06$27.02$13.98$0.93$-12.11
6.3x$64.21$51.17$38.13$25.09$12.05
8.3x$88.37$75.33$62.28$49.24$36.20