DLHC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($5.76)
DCF	$30.71	+433.2%
Graham Number	—	—
Reverse DCF	—	implied g: -10.9%
DDM	—	—
EV/EBITDA	$5.76	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $33.87M

Near-term growth (yrs 1–5)(%)Rev: -24.1% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.98%

Computed WACC: 5.98%

Cost of equity (Re)13.17%(Rf 4.30% + β 1.61 × ERP 5.50%)

Cost of debt (Rd)2.51%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)35.78%

Debt weight (D/V)64.22%

Results

Intrinsic Value / share$66.75

Current Price$5.76

Upside / Downside+1058.9%

Net Debt (used)$149.55M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$31.06	$39.43	$49.17	$60.43	$73.41
8.0%	$23.70	$30.43	$38.26	$47.30	$57.70
9.0%	$18.60	$24.20	$30.71	$38.22	$46.85
10.0%	$14.85	$19.64	$25.18	$31.56	$38.90
11.0%	$11.98	$16.14	$20.95	$26.48	$32.83

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.08

Book Value / share($)Yahoo: $7.74

Results

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

Graham Number—

Current Price$5.76

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.98%

Terminal growth rate(%)

Computed WACC: 5.98%

Cost of equity (Re)13.17%(Rf 4.30% + β 1.61 × ERP 5.50%)

Cost of debt (Rd)2.51%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)35.78%

Debt weight (D/V)64.22%

Results

Current Price$5.76

Implied Near-term FCF Growth-18.6%

Historical Revenue Growth-24.1%

Historical Earnings Growth—

Base FCF (TTM)$33.87M

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$5.76

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $29.76M

Target EV/EBITDA multipleCurrent: 7.8×

Net Debt($B)Default: $149.55M

Results

Implied Equity Value / share$5.76

Current Price$5.76

Upside / Downside+0.0%

Implied EV$233.03M

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

Mult \ Net Debt	-$1.85B	-$850.45M	$149.55M	$1.15B	$2.15B
3.8x	$135.54	$66.55	$-2.45	$-71.45	$-140.45
5.8x	$139.65	$70.65	$1.65	$-67.34	$-136.34
7.8x	$143.76	$74.76	$5.76	$-63.24	$-132.24
9.8x	$147.86	$78.87	$9.87	$-59.13	$-128.13
11.8x	$151.97	$82.97	$13.97	$-55.03	$-124.02

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