ECVT — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($11.32)
DCF	$15.02	+32.7%
Graham Number	—	—
Reverse DCF	—	implied g: 5.4%
DDM	—	—
EV/EBITDA	$11.10	-1.9%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $84.73M

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

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.98%

Computed WACC: 7.98%

Cost of equity (Re)10.64%(Rf 4.30% + β 1.15 × 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)75.04%

Debt weight (D/V)24.96%

Results

Intrinsic Value / share$18.39

Current Price$11.32

Upside / Downside+62.5%

Net Debt (used)$233.60M

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

WACC \ Near-term	1.6%	5.6%	9.6%	13.6%	17.6%
7.0%	$15.61	$19.08	$23.09	$27.70	$32.99
8.0%	$12.34	$15.11	$18.32	$22.00	$26.22
9.0%	$10.08	$12.37	$15.02	$18.07	$21.55
10.0%	$8.42	$10.37	$12.62	$15.20	$18.14
11.0%	$7.16	$8.84	$10.78	$13.01	$15.55

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.27

Book Value / share($)Yahoo: $5.40

Results

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

Graham Number—

Current Price$11.32

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.98%

Terminal growth rate(%)

Computed WACC: 7.98%

Cost of equity (Re)10.64%(Rf 4.30% + β 1.15 × 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)75.04%

Debt weight (D/V)24.96%

Results

Current Price$11.32

Implied Near-term FCF Growth2.6%

Historical Revenue Growth9.6%

Historical Earnings Growth—

Base FCF (TTM)$84.73M

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$11.32

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $143.50M

Target EV/EBITDA multipleCurrent: 10.4×

Net Debt($B)Default: $233.60M

Results

Implied Equity Value / share$11.10

Current Price$11.32

Upside / Downside-1.9%

Implied EV$1.50B

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

Mult \ Net Debt	-$1.77B	-$766.40M	$233.60M	$1.23B	$2.23B
6.4x	$23.61	$14.84	$6.07	$-2.70	$-11.47
8.4x	$26.12	$17.35	$8.58	$-0.19	$-8.96
10.4x	$28.64	$19.87	$11.10	$2.33	$-6.44
12.4x	$31.16	$22.39	$13.62	$4.85	$-3.92
14.4x	$33.68	$24.91	$16.13	$7.36	$-1.41

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