ELMD — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($24.10)
DCF	$142.43	+491.0%
Graham Number	$11.28	-53.2%
Reverse DCF	—	implied g: 11.9%
DDM	—	—
EV/EBITDA	$24.10	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $7.08M

Near-term growth (yrs 1–5)(%)Rev: 16.3% / EPS: 45.5%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.72%

Computed WACC: 5.72%

Cost of equity (Re)5.72%(Rf 4.30% + β 0.26 × 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)99.95%

Debt weight (D/V)0.05%

Results

Intrinsic Value / share$331.96

Current Price$24.10

Upside / Downside+1277.4%

Net Debt (used)-$13.70M

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

WACC \ Near-term	37.5%	41.5%	45.5%	49.5%	53.5%
7.0%	$170.26	$195.79	$224.34	$256.18	$291.59
8.0%	$133.66	$153.56	$175.81	$200.61	$228.19
9.0%	$108.68	$124.73	$142.68	$162.68	$184.91
10.0%	$90.63	$103.91	$118.75	$135.29	$153.66
11.0%	$77.05	$88.25	$100.75	$114.69	$130.17

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.03

Book Value / share($)Yahoo: $5.49

Results

Graham Number$11.28

Current Price$24.10

Margin of Safety-53.2%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.72%

Terminal growth rate(%)

Computed WACC: 5.72%

Cost of equity (Re)5.72%(Rf 4.30% + β 0.26 × 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)99.95%

Debt weight (D/V)0.05%

Results

Current Price$24.10

Implied Near-term FCF Growth0.3%

Historical Revenue Growth16.3%

Historical Earnings Growth45.5%

Base FCF (TTM)$7.08M

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$24.10

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $12.88M

Target EV/EBITDA multipleCurrent: 14.4×

Net Debt($B)Default: -$13.70M

Results

Implied Equity Value / share$24.10

Current Price$24.10

Upside / Downside+0.0%

Implied EV$185.74M

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

Mult \ Net Debt	-$2.01B	-$1.01B	-$13.70M	$986.30M	$1.99B
10.4x	$259.56	$138.72	$17.87	$-102.97	$-223.81
12.4x	$262.67	$141.83	$20.99	$-99.85	$-220.70
14.4x	$265.78	$144.94	$24.10	$-96.74	$-217.58
16.4x	$268.90	$148.05	$27.21	$-93.63	$-214.47
18.4x	$272.01	$151.17	$30.33	$-90.52	$-211.36

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