EML — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($18.66)
DCF	$49.19	+163.6%
Graham Number	$23.71	+27.1%
Reverse DCF	—	implied g: -8.1%
DDM	$9.06	-51.4%
EV/EBITDA	$18.66	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $19.63M

Near-term growth (yrs 1–5)(%)Rev: -22.4% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.08%

Computed WACC: 8.08%

Cost of equity (Re)9.59%(Rf 4.30% + β 0.96 × ERP 5.50%)

Cost of debt (Rd)6.32%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)67.14%

Debt weight (D/V)32.86%

Results

Intrinsic Value / share$58.66

Current Price$18.66

Upside / Downside+214.4%

Net Debt (used)$46.19M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$49.67	$61.26	$74.74	$90.34	$108.30
8.0%	$39.48	$48.81	$59.64	$72.16	$86.56
9.0%	$32.42	$40.18	$49.19	$59.58	$71.53
10.0%	$27.23	$33.86	$41.53	$50.37	$60.52
11.0%	$23.26	$29.02	$35.67	$43.33	$52.12

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.22

Book Value / share($)Yahoo: $20.48

Results

Graham Number$23.71

Current Price$18.66

Margin of Safety+27.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.08%

Terminal growth rate(%)

Computed WACC: 8.08%

Cost of equity (Re)9.59%(Rf 4.30% + β 0.96 × ERP 5.50%)

Cost of debt (Rd)6.32%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)67.14%

Debt weight (D/V)32.86%

Results

Current Price$18.66

Implied Near-term FCF Growth-10.2%

Historical Revenue Growth-22.4%

Historical Earnings Growth—

Base FCF (TTM)$19.63M

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: $0.44

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$9.06

Current Price$18.66

Upside / Downside-51.4%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $19.36M

Target EV/EBITDA multipleCurrent: 8.2×

Net Debt($B)Default: $46.19M

Results

Implied Equity Value / share$18.66

Current Price$18.66

Upside / Downside-0.0%

Implied EV$159.43M

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

Mult \ Net Debt	-$1.95B	-$953.81M	$46.19M	$1.05B	$2.05B
4.2x	$335.46	$170.68	$5.90	$-158.88	$-323.67
6.2x	$341.84	$177.06	$12.28	$-152.50	$-317.28
8.2x	$348.22	$183.44	$18.66	$-146.12	$-310.90
10.2x	$354.60	$189.82	$25.04	$-139.74	$-304.52
12.2x	$360.98	$196.20	$31.42	$-133.36	$-298.14

← Overview Financial Statements ← Companies