FHN — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($24.16)
DCF	$0.10	-99.6%
Graham Number	$27.15	+12.4%
Reverse DCF	—	—
DDM	$14.01	-42.0%
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: 23.7% / EPS: 74.9%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.56%

Computed WACC: 5.56%

Cost of equity (Re)7.70%(Rf 4.30% + β 0.62 × 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)72.23%

Debt weight (D/V)27.77%

Results

Intrinsic Value / share$0.10

Current Price$24.16

Upside / Downside-99.6%

Net Debt (used)-$50.00M

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

WACC \ Near-term	66.9%	70.9%	74.9%	78.9%	82.9%
7.0%	$0.10	$0.10	$0.10	$0.10	$0.10
8.0%	$0.10	$0.10	$0.10	$0.10	$0.10
9.0%	$0.10	$0.10	$0.10	$0.10	$0.10
10.0%	$0.10	$0.10	$0.10	$0.10	$0.10
11.0%	$0.10	$0.10	$0.10	$0.10	$0.10

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.87

Book Value / share($)Yahoo: $17.52

Results

Graham Number$27.15

Current Price$24.16

Margin of Safety+12.4%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.56%

Terminal growth rate(%)

Computed WACC: 5.56%

Cost of equity (Re)7.70%(Rf 4.30% + β 0.62 × 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)72.23%

Debt weight (D/V)27.77%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$24.16

Implied Near-term FCF Growth—

Historical Revenue Growth23.7%

Historical Earnings Growth74.9%

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: $0.68

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$14.01

Current Price$24.16

Upside / Downside-42.0%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: -$50.00M

Results

Implied Equity Value / share$0.10

Current Price$24.16

Upside / Downside-99.6%

Implied EV$0

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