FF — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($4.39)
DCF	$-6.67	-252.0%
Graham Number	—	—
Reverse DCF	—	—
DDM	$4.94	+12.6%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$21.52M

Near-term growth (yrs 1–5)(%)Rev: -55.6% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.94%

Computed WACC: 8.94%

Cost of equity (Re)8.94%(Rf 4.30% + β 0.84 × 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$-6.75

Current Price$4.39

Upside / Downside-253.9%

Net Debt (used)-$85.56M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-6.75	$-8.51	$-10.55	$-12.92	$-15.65
8.0%	$-5.20	$-6.62	$-8.26	$-10.16	$-12.35
9.0%	$-4.13	$-5.31	$-6.67	$-8.25	$-10.07
10.0%	$-3.34	$-4.34	$-5.51	$-6.85	$-8.39
11.0%	$-2.74	$-3.61	$-4.62	$-5.78	$-7.12

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.79

Book Value / share($)Yahoo: $3.86

Results

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

Graham Number—

Current Price$4.39

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.94%

Terminal growth rate(%)

Computed WACC: 8.94%

Cost of equity (Re)8.94%(Rf 4.30% + β 0.84 × 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$4.39

Implied Near-term FCF Growth—

Historical Revenue Growth-55.6%

Historical Earnings Growth—

Base FCF (TTM)-$21.52M

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: $0.24

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$4.94

Current Price$4.39

Upside / Downside+12.6%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$29.46M

Target EV/EBITDA multipleCurrent: -3.5×

Net Debt($B)Default: -$85.56M

Results

Implied Equity Value / share$4.32

Current Price$4.39

Upside / Downside-1.6%

Implied EV$103.68M

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