ESTA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($76.09)
DCF	$-6.01	-107.9%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: —

Near-term growth (yrs 1–5)(%)Rev: 45.2% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.59%

Computed WACC: 8.59%

Cost of equity (Re)9.56%(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)89.83%

Debt weight (D/V)10.17%

Results

Intrinsic Value / share$-6.01

Current Price$76.09

Upside / Downside-107.9%

Net Debt (used)$174.77M

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

WACC \ Near-term	37.2%	41.2%	45.2%	49.2%	53.2%
7.0%	$-6.01	$-6.01	$-6.01	$-6.01	$-6.01
8.0%	$-6.01	$-6.01	$-6.01	$-6.01	$-6.01
9.0%	$-6.01	$-6.01	$-6.01	$-6.01	$-6.01
10.0%	$-6.01	$-6.01	$-6.01	$-6.01	$-6.01
11.0%	$-6.01	$-6.01	$-6.01	$-6.01	$-6.01

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-2.84

Book Value / share($)Yahoo: $0.79

Results

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

Graham Number—

Current Price$76.09

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.59%

Terminal growth rate(%)

Computed WACC: 8.59%

Cost of equity (Re)9.56%(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)89.83%

Debt weight (D/V)10.17%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$76.09

Implied Near-term FCF Growth—

Historical Revenue Growth45.2%

Historical Earnings Growth—

Base FCF (TTM)—

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$76.09

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$29.57M

Target EV/EBITDA multipleCurrent: -82.6×

Net Debt($B)Default: $174.77M

Results

Implied Equity Value / share$78.03

Current Price$76.09

Upside / Downside+2.5%

Implied EV$2.44B

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