EMBC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($9.99)
DCF	$35.59	+256.2%
Graham Number	—	—
Reverse DCF	—	implied g: -5.4%
DDM	$12.36	+23.7%
EV/EBITDA	$9.99	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $188.91M

Near-term growth (yrs 1–5)(%)Rev: -0.3% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 3.00%

Computed WACC: 3.00%

Cost of equity (Re)10.16%(Rf 4.30% + β 1.06 × 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)29.55%

Debt weight (D/V)70.45%

Results

Intrinsic Value / share$716.45

Current Price$9.99

Upside / Downside+7071.6%

Net Debt (used)$1.21B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$36.07	$47.49	$60.78	$76.16	$93.88
8.0%	$26.02	$35.21	$45.89	$58.24	$72.44
9.0%	$19.05	$26.71	$35.59	$45.84	$57.62
10.0%	$13.94	$20.47	$28.04	$36.76	$46.76
11.0%	$10.03	$15.70	$22.26	$29.82	$38.48

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.36

Book Value / share($)Yahoo: $-10.35

Results

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

Graham Number—

Current Price$9.99

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 3.00%

Terminal growth rate(%)

Computed WACC: 3.00%

Cost of equity (Re)10.16%(Rf 4.30% + β 1.06 × 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)29.55%

Debt weight (D/V)70.45%

Results

Current Price$9.99

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth-0.3%

Historical Earnings Growth—

Base FCF (TTM)$188.91M

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: $0.60

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$12.36

Current Price$9.99

Upside / Downside+23.7%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $366.70M

Target EV/EBITDA multipleCurrent: 4.9×

Net Debt($B)Default: $1.21B

Results

Implied Equity Value / share$9.99

Current Price$9.99

Upside / Downside-0.0%

Implied EV$1.80B

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

Mult \ Net Debt	$1.21B	$1.21B	$1.21B	$1.21B	$1.21B
0.9x	$-14.78	$-14.78	$-14.78	$-14.78	$-14.78
2.9x	$-2.40	$-2.40	$-2.40	$-2.40	$-2.40
4.9x	$9.99	$9.99	$9.99	$9.99	$9.99
6.9x	$22.37	$22.37	$22.37	$22.37	$22.37
8.9x	$34.76	$34.76	$34.76	$34.76	$34.76

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