EFC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($12.32)
DCF	$-130.12	-1156.1%
Graham Number	$19.86	+61.2%
Reverse DCF	—	—
DDM	$32.14	+160.8%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: —

Near-term growth (yrs 1–5)(%)Rev: -9.3% / EPS: -45.3%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 2.08%

Computed WACC: 2.08%

Cost of equity (Re)9.50%(Rf 4.30% + β 0.94 × ERP 5.50%)

Cost of debt (Rd)1.79%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)8.28%

Debt weight (D/V)91.72%

Results

Intrinsic Value / share—

Current Price$12.32

Upside / Downside—

Net Debt (used)$16.22B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-130.12	$-130.12	$-130.12	$-130.12	$-130.12
8.0%	$-130.12	$-130.12	$-130.12	$-130.12	$-130.12
9.0%	$-130.12	$-130.12	$-130.12	$-130.12	$-130.12
10.0%	$-130.12	$-130.12	$-130.12	$-130.12	$-130.12
11.0%	$-130.12	$-130.12	$-130.12	$-130.12	$-130.12

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.32

Book Value / share($)Yahoo: $13.28

Results

Graham Number$19.86

Current Price$12.32

Margin of Safety+61.2%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 2.08%

Terminal growth rate(%)

Computed WACC: 2.08%

Cost of equity (Re)9.50%(Rf 4.30% + β 0.94 × ERP 5.50%)

Cost of debt (Rd)1.79%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)8.28%

Debt weight (D/V)91.72%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$12.32

Implied Near-term FCF Growth—

Historical Revenue Growth-9.3%

Historical Earnings Growth-45.3%

Base FCF (TTM)—

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: $1.56

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$32.14

Current Price$12.32

Upside / Downside+160.8%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: $16.22B

Results

Implied Equity Value / share$-130.12

Current Price$12.32

Upside / Downside-1156.1%

Implied EV$0

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