EBS — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($8.99)
DCF	$62.79	+598.4%
Graham Number	$18.15	+101.9%
Reverse DCF	—	implied g: -20.0%
DDM	—	—
EV/EBITDA	$8.92	-0.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $208.72M

Near-term growth (yrs 1–5)(%)Rev: -23.6% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.09%

Computed WACC: 8.09%

Cost of equity (Re)17.75%(Rf 4.30% + β 2.44 × 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)45.60%

Debt weight (D/V)54.40%

Results

Intrinsic Value / share$74.28

Current Price$8.99

Upside / Downside+726.3%

Net Debt (used)$366.70M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$63.39	$77.62	$94.18	$113.34	$135.41
8.0%	$50.87	$62.32	$75.63	$91.01	$108.70
9.0%	$42.19	$51.73	$62.79	$75.56	$90.23
10.0%	$35.82	$43.96	$53.38	$64.24	$76.71
11.0%	$30.94	$38.01	$46.19	$55.60	$66.39

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.46

Book Value / share($)Yahoo: $10.03

Results

Graham Number$18.15

Current Price$8.99

Margin of Safety+101.9%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.09%

Terminal growth rate(%)

Computed WACC: 8.09%

Cost of equity (Re)17.75%(Rf 4.30% + β 2.44 × 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)45.60%

Debt weight (D/V)54.40%

Results

Current Price$8.99

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth-23.6%

Historical Earnings Growth—

Base FCF (TTM)$208.72M

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$8.99

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $212.90M

Target EV/EBITDA multipleCurrent: 3.9×

Net Debt($B)Default: $366.70M

Results

Implied Equity Value / share$8.92

Current Price$8.99

Upside / Downside-0.8%

Implied EV$834.99M

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

Mult \ Net Debt	-$1.63B	-$633.30M	$366.70M	$1.37B	$2.37B
-0.1x	$30.78	$11.74	$-7.30	$-26.34	$-45.38
1.9x	$38.89	$19.85	$0.81	$-18.23	$-37.27
3.9x	$47.00	$27.96	$8.92	$-10.12	$-29.16
5.9x	$55.10	$36.06	$17.02	$-2.02	$-21.06
7.9x	$63.21	$44.17	$25.13	$6.09	$-12.95

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