FA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($11.76)
DCF	$99.57	+746.7%
Graham Number	—	—
Reverse DCF	—	implied g: 8.3%
DDM	—	—
EV/EBITDA	$11.77	+0.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $183.22M

Near-term growth (yrs 1–5)(%)Rev: 36.8% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.38%

Computed WACC: 5.38%

Cost of equity (Re)10.89%(Rf 4.30% + β 1.20 × 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)49.42%

Debt weight (D/V)50.58%

Results

Intrinsic Value / share$276.75

Current Price$11.76

Upside / Downside+2253.3%

Net Debt (used)$1.86B

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

WACC \ Near-term	28.8%	32.8%	36.8%	40.8%	44.8%
7.0%	$117.53	$138.18	$161.44	$187.55	$216.76
8.0%	$90.33	$106.50	$124.70	$145.12	$167.97
9.0%	$71.72	$84.82	$99.57	$116.11	$134.60
10.0%	$58.25	$69.14	$81.38	$95.12	$110.47
11.0%	$48.09	$57.31	$67.68	$79.29	$92.28

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.89

Book Value / share($)Yahoo: $7.54

Results

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

Graham Number—

Current Price$11.76

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.38%

Terminal growth rate(%)

Computed WACC: 5.38%

Cost of equity (Re)10.89%(Rf 4.30% + β 1.20 × 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)49.42%

Debt weight (D/V)50.58%

Results

Current Price$11.76

Implied Near-term FCF Growth-4.4%

Historical Revenue Growth36.8%

Historical Earnings Growth—

Base FCF (TTM)$183.22M

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$11.76

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $381.05M

Target EV/EBITDA multipleCurrent: 10.3×

Net Debt($B)Default: $1.86B

Results

Implied Equity Value / share$11.77

Current Price$11.76

Upside / Downside+0.1%

Implied EV$3.91B

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

Mult \ Net Debt	$1.86B	$1.86B	$1.86B	$1.86B	$1.86B
6.3x	$3.02	$3.02	$3.02	$3.02	$3.02
8.3x	$7.40	$7.40	$7.40	$7.40	$7.40
10.3x	$11.77	$11.77	$11.77	$11.77	$11.77
12.3x	$16.15	$16.15	$16.15	$16.15	$16.15
14.3x	$20.53	$20.53	$20.53	$20.53	$20.53

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