FBNC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($57.36)
DCF	$5.32	-90.7%
Graham Number	$49.05	-14.5%
Reverse DCF	—	—
DDM	$19.78	-65.5%
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: 21.5% / EPS: 341.0%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.78%

Computed WACC: 8.78%

Cost of equity (Re)9.12%(Rf 4.30% + β 0.88 × 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)96.27%

Debt weight (D/V)3.73%

Results

Intrinsic Value / share$5.32

Current Price$57.36

Upside / Downside-90.7%

Net Debt (used)-$220.76M

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

WACC \ Near-term	333.0%	337.0%	341.0%	345.0%	349.0%
7.0%	$5.32	$5.32	$5.32	$5.32	$5.32
8.0%	$5.32	$5.32	$5.32	$5.32	$5.32
9.0%	$5.32	$5.32	$5.32	$5.32	$5.32
10.0%	$5.32	$5.32	$5.32	$5.32	$5.32
11.0%	$5.32	$5.32	$5.32	$5.32	$5.32

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.68

Book Value / share($)Yahoo: $39.89

Results

Graham Number$49.05

Current Price$57.36

Margin of Safety-14.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.78%

Terminal growth rate(%)

Computed WACC: 8.78%

Cost of equity (Re)9.12%(Rf 4.30% + β 0.88 × 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)96.27%

Debt weight (D/V)3.73%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$57.36

Implied Near-term FCF Growth—

Historical Revenue Growth21.5%

Historical Earnings Growth341.0%

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: $0.96

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$19.78

Current Price$57.36

Upside / Downside-65.5%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: -$220.76M

Results

Implied Equity Value / share$5.32

Current Price$57.36

Upside / Downside-90.7%

Implied EV$0

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