FDMT — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($9.33)
DCF	$-314022670901107.88	-3365730663463206.5%
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: -$103.55M

Near-term growth (yrs 1–5)(%)Rev: 2900.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 20.01%

Computed WACC: 20.01%

Cost of equity (Re)20.85%(Rf 4.30% + β 3.01 × 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)95.99%

Debt weight (D/V)4.01%

Results

Intrinsic Value / share$-49408395206370.63

Current Price$9.33

Upside / Downside-529564793208788.5%

Net Debt (used)-$282.80M

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

WACC \ Near-term	2892.0%	2896.0%	2900.0%	2904.0%	2908.0%
7.0%	$-528014259271722.25	$-531553216160322.06	$-535111123235798.06	$-538688056501437.69	$-542284092163474.81
8.0%	$-397591183547349.31	$-400255994265912.31	$-402935074347649.13	$-405628481022523.38	$-408336271673316.50
9.0%	$-309857972991463.56	$-311934761616818.56	$-314022670901107.88	$-316121745445825.00	$-318232029971559.88
10.0%	$-247525856626565.66	$-249184871169501.69	$-250852769300623.22	$-252529586649231.00	$-254215358939764.16
11.0%	$-201461454432895.47	$-202811727439683.63	$-204169230804625.94	$-205533993526433.03	$-206906044681249.09

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-3.75

Book Value / share($)Yahoo: $7.89

Results

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

Graham Number—

Current Price$9.33

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 20.01%

Terminal growth rate(%)

Computed WACC: 20.01%

Cost of equity (Re)20.85%(Rf 4.30% + β 3.01 × 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)95.99%

Debt weight (D/V)4.01%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$9.33

Implied Near-term FCF Growth—

Historical Revenue Growth2900.0%

Historical Earnings Growth—

Base FCF (TTM)-$103.55M

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$9.33

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$222.70M

Target EV/EBITDA multipleCurrent: -1.2×

Net Debt($B)Default: -$282.80M

Results

Implied Equity Value / share$10.82

Current Price$9.33

Upside / Downside+16.0%

Implied EV$269.03M

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