FEIM — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($54.46)
DCF	$-16.12	-129.6%
Graham Number	$17.13	-68.5%
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$13.31	-75.6%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$8.98M

Near-term growth (yrs 1–5)(%)Rev: 0.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.76%

Computed WACC: 5.76%

Cost of equity (Re)5.76%(Rf 4.30% + β 0.27 × 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)100.00%

Debt weight (D/V)0.00%

Results

Intrinsic Value / share$-32.34

Current Price$54.46

Upside / Downside-159.4%

Net Debt (used)$0

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-16.26	$-19.55	$-23.37	$-27.80	$-32.90
8.0%	$-13.37	$-16.01	$-19.09	$-22.64	$-26.73
9.0%	$-11.36	$-13.56	$-16.12	$-19.07	$-22.46
10.0%	$-9.89	$-11.77	$-13.95	$-16.46	$-19.34
11.0%	$-8.76	$-10.40	$-12.28	$-14.46	$-16.95

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.18

Book Value / share($)Yahoo: $5.98

Results

Graham Number$17.13

Current Price$54.46

Margin of Safety-68.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.76%

Terminal growth rate(%)

Computed WACC: 5.76%

Cost of equity (Re)5.76%(Rf 4.30% + β 0.27 × 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)100.00%

Debt weight (D/V)0.00%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$54.46

Implied Near-term FCF Growth—

Historical Revenue Growth0.0%

Historical Earnings Growth—

Base FCF (TTM)-$8.98M

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$54.46

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $10.85M

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: $0

Results

Implied Equity Value / share$13.31

Current Price$54.46

Upside / Downside-75.6%

Implied EV$130.18M

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

Mult \ Net Debt	-$2.00B	-$1.00B	$0	$1.00B	$2.00B
8.0x	$213.42	$111.15	$8.88	$-93.40	$-195.67
10.0x	$215.64	$113.37	$11.10	$-91.18	$-193.45
12.0x	$217.86	$115.59	$13.31	$-88.96	$-191.23
14.0x	$220.08	$117.81	$15.53	$-86.74	$-189.01
16.0x	$222.30	$120.03	$17.75	$-84.52	$-186.80

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