FARM — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($1.24)
DCF	$1.98	+59.9%
Graham Number	—	—
Reverse DCF	—	implied g: 1.8%
DDM	—	—
EV/EBITDA	$1.24	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $5.39M

Near-term growth (yrs 1–5)(%)Rev: -1.2% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 3.43%

Computed WACC: 3.43%

Cost of equity (Re)10.55%(Rf 4.30% + β 1.14 × 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)32.55%

Debt weight (D/V)67.45%

Results

Intrinsic Value / share$28.43

Current Price$1.24

Upside / Downside+2192.6%

Net Debt (used)$51.63M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$2.02	$2.91	$3.94	$5.14	$6.52
8.0%	$1.24	$1.95	$2.78	$3.75	$4.85
9.0%	$0.70	$1.29	$1.98	$2.78	$3.70
10.0%	$0.30	$0.81	$1.39	$2.07	$2.85
11.0%	$-0.01	$0.43	$0.95	$1.53	$2.21

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.86

Book Value / share($)Yahoo: $1.64

Results

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

Graham Number—

Current Price$1.24

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 3.43%

Terminal growth rate(%)

Computed WACC: 3.43%

Cost of equity (Re)10.55%(Rf 4.30% + β 1.14 × 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)32.55%

Debt weight (D/V)67.45%

Results

Current Price$1.24

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth-1.2%

Historical Earnings Growth—

Base FCF (TTM)$5.39M

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$1.24

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $5.07M

Target EV/EBITDA multipleCurrent: 15.5×

Net Debt($B)Default: $51.63M

Results

Implied Equity Value / share$1.24

Current Price$1.24

Upside / Downside-0.0%

Implied EV$78.57M

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

Mult \ Net Debt	-$1.95B	-$948.37M	$51.63M	$1.05B	$2.05B
11.5x	$92.36	$46.33	$0.31	$-45.72	$-91.74
13.5x	$92.82	$46.80	$0.77	$-45.25	$-91.28
15.5x	$93.29	$47.27	$1.24	$-44.79	$-90.81
17.5x	$93.76	$47.73	$1.71	$-44.32	$-90.34
19.5x	$94.22	$48.20	$2.17	$-43.85	$-89.88

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