EPAC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($40.95)
DCF	$29.81	-27.2%
Graham Number	$17.47	-57.3%
Reverse DCF	—	implied g: 10.3%
DDM	$0.82	-98.0%
EV/EBITDA	$40.95	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $92.43M

Near-term growth (yrs 1–5)(%)Rev: -0.7% / EPS: -10.0%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.83%

Computed WACC: 8.83%

Cost of equity (Re)9.60%(Rf 4.30% + β 0.96 × 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)92.01%

Debt weight (D/V)7.99%

Results

Intrinsic Value / share$30.65

Current Price$40.95

Upside / Downside-25.2%

Net Debt (used)$49.41M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$30.08	$36.35	$43.64	$52.09	$61.81
8.0%	$24.56	$29.61	$35.47	$42.25	$50.04
9.0%	$20.73	$24.94	$29.81	$35.44	$41.90
10.0%	$17.93	$21.51	$25.66	$30.45	$35.95
11.0%	$15.78	$18.89	$22.50	$26.64	$31.40

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.66

Book Value / share($)Yahoo: $8.17

Results

Graham Number$17.47

Current Price$40.95

Margin of Safety-57.3%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.83%

Terminal growth rate(%)

Computed WACC: 8.83%

Cost of equity (Re)9.60%(Rf 4.30% + β 0.96 × 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)92.01%

Debt weight (D/V)7.99%

Results

Current Price$40.95

Implied Near-term FCF Growth9.8%

Historical Revenue Growth-0.7%

Historical Earnings Growth-10.0%

Base FCF (TTM)$92.43M

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: $0.04

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$0.82

Current Price$40.95

Upside / Downside-98.0%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $152.70M

Target EV/EBITDA multipleCurrent: 14.5×

Net Debt($B)Default: $49.41M

Results

Implied Equity Value / share$40.95

Current Price$40.95

Upside / Downside+0.0%

Implied EV$2.21B

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

Mult \ Net Debt	-$1.95B	-$950.59M	$49.41M	$1.05B	$2.05B
10.5x	$67.27	$48.32	$29.38	$10.43	$-8.52
12.5x	$73.06	$54.11	$35.16	$16.22	$-2.73
14.5x	$78.85	$59.90	$40.95	$22.00	$3.05
16.5x	$84.63	$65.68	$46.74	$27.79	$8.84
18.5x	$90.42	$71.47	$52.52	$33.58	$14.63

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