DLTH — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($2.20)
DCF	$0.10	-95.5%
Graham Number	—	—
Reverse DCF	—	implied g: 10.3%
DDM	—	—
EV/EBITDA	$2.28	+3.6%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $10.90M

Near-term growth (yrs 1–5)(%)Rev: -9.6% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.50%

Computed WACC: 5.50%

Cost of equity (Re)14.40%(Rf 4.30% + β 1.84 × ERP 5.50%)

Cost of debt (Rd)2.32%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)29.16%

Debt weight (D/V)70.84%

Results

Intrinsic Value / share$6.87

Current Price$2.20

Upside / Downside+212.5%

Net Debt (used)$188.10M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$0.15	$1.32	$2.68	$4.25	$6.07
8.0%	$-0.88	$0.06	$1.15	$2.42	$3.87
9.0%	$-1.60	$-0.81	$0.10	$1.15	$2.35
10.0%	$-2.12	$-1.45	$-0.68	$0.22	$1.24
11.0%	$-2.52	$-1.94	$-1.27	$-0.49	$0.39

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.88

Book Value / share($)Yahoo: $4.38

Results

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

Graham Number—

Current Price$2.20

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.50%

Terminal growth rate(%)

Computed WACC: 5.50%

Cost of equity (Re)14.40%(Rf 4.30% + β 1.84 × ERP 5.50%)

Cost of debt (Rd)2.32%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)29.16%

Debt weight (D/V)70.84%

Results

Current Price$2.20

Implied Near-term FCF Growth-2.1%

Historical Revenue Growth-9.6%

Historical Earnings Growth—

Base FCF (TTM)$10.90M

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$2.20

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $3.62M

Target EV/EBITDA multipleCurrent: 73.0×

Net Debt($B)Default: $188.10M

Results

Implied Equity Value / share$2.28

Current Price$2.20

Upside / Downside+3.6%

Implied EV$264.16M

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

Mult \ Net Debt	-$1.81B	-$811.90M	$188.10M	$1.19B	$2.19B
69.0x	$61.79	$31.82	$1.85	$-28.13	$-58.10
71.0x	$62.01	$32.04	$2.06	$-27.91	$-57.89
73.0x	$62.23	$32.25	$2.28	$-27.69	$-57.67
75.0x	$62.45	$32.47	$2.50	$-27.48	$-57.45
77.0x	$62.66	$32.69	$2.71	$-27.26	$-57.23

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