EHTH — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($1.24)
DCF	$37.02	+2885.4%
Graham Number	$8.30	+569.6%
Reverse DCF	—	implied g: -20.0%
DDM	—	—
EV/EBITDA	$13.66	+1002.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $68.12M

Near-term growth (yrs 1–5)(%)Rev: 3.5% / EPS: -26.5%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 2.41%

Computed WACC: 2.41%

Cost of equity (Re)10.90%(Rf 4.30% + β 1.20 × 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)22.11%

Debt weight (D/V)77.89%

Results

Intrinsic Value / share—

Current Price$1.24

Upside / Downside—

Net Debt (used)$57.13M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$37.35	$45.28	$54.51	$65.18	$77.48
8.0%	$30.38	$36.76	$44.17	$52.74	$62.60
9.0%	$25.54	$30.86	$37.02	$44.13	$52.31
10.0%	$21.99	$26.53	$31.78	$37.83	$44.78
11.0%	$19.27	$23.21	$27.77	$33.01	$39.02

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.16

Book Value / share($)Yahoo: $19.15

Results

Graham Number$8.30

Current Price$1.24

Margin of Safety+569.6%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 2.41%

Terminal growth rate(%)

Computed WACC: 2.41%

Cost of equity (Re)10.90%(Rf 4.30% + β 1.20 × 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)22.11%

Debt weight (D/V)77.89%

Results

Current Price$1.24

Implied Near-term FCF Growth65.0%

Historical Revenue Growth3.5%

Historical Earnings Growth-26.5%

Base FCF (TTM)$68.12M

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$1.24

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $70.38M

Target EV/EBITDA multipleCurrent: 6.8×

Net Debt($B)Default: $57.13M

Results

Implied Equity Value / share$13.66

Current Price$1.24

Upside / Downside+1002.0%

Implied EV$477.53M

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

Mult \ Net Debt	-$1.94B	-$942.87M	$57.13M	$1.06B	$2.06B
2.8x	$69.52	$37.02	$4.51	$-27.99	$-60.50
4.8x	$74.10	$41.59	$9.09	$-23.42	$-55.92
6.8x	$78.67	$46.17	$13.66	$-18.84	$-51.34
8.8x	$83.25	$50.74	$18.24	$-14.26	$-46.77
10.8x	$87.82	$55.32	$22.82	$-9.69	$-42.19

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