DH — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($1.14)
DCF	$11.63	+919.7%
Graham Number	—	—
Reverse DCF	—	implied g: -20.0%
DDM	—	—
EV/EBITDA	$2.24	+96.7%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $67.93M

Near-term growth (yrs 1–5)(%)Rev: -1.2% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.05%

Computed WACC: 8.05%

Cost of equity (Re)13.44%(Rf 4.30% + β 1.66 × ERP 5.50%)

Cost of debt (Rd)5.50%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)40.73%

Debt weight (D/V)59.27%

Results

Intrinsic Value / share$13.62

Current Price$1.14

Upside / Downside+1095.1%

Net Debt (used)-$8.34M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$11.72	$14.08	$16.82	$19.99	$23.64
8.0%	$9.65	$11.55	$13.75	$16.29	$19.22
9.0%	$8.22	$9.79	$11.63	$13.74	$16.17
10.0%	$7.16	$8.51	$10.07	$11.87	$13.93
11.0%	$6.36	$7.53	$8.88	$10.44	$12.22

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.72

Book Value / share($)Yahoo: $2.70

Results

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

Graham Number—

Current Price$1.14

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.05%

Terminal growth rate(%)

Computed WACC: 8.05%

Cost of equity (Re)13.44%(Rf 4.30% + β 1.66 × ERP 5.50%)

Cost of debt (Rd)5.50%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)40.73%

Debt weight (D/V)59.27%

Results

Current Price$1.14

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth-1.2%

Historical Earnings Growth—

Base FCF (TTM)$67.93M

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$1.14

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $35.53M

Target EV/EBITDA multipleCurrent: 6.3×

Net Debt($B)Default: -$8.34M

Results

Implied Equity Value / share$2.24

Current Price$1.14

Upside / Downside+96.7%

Implied EV$223.25M

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

Mult \ Net Debt	-$2.01B	-$1.01B	-$8.34M	$991.66M	$1.99B
2.3x	$20.23	$10.55	$0.87	$-8.81	$-18.49
4.3x	$20.91	$11.23	$1.55	$-8.13	$-17.81
6.3x	$21.60	$11.92	$2.24	$-7.44	$-17.12
8.3x	$22.29	$12.61	$2.93	$-6.75	$-16.43
10.3x	$22.98	$13.30	$3.62	$-6.06	$-15.74

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