FLNC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($15.12)
DCF	$-10686.22	-70776.1%
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: -$98.40M

Near-term growth (yrs 1–5)(%)Rev: 154.4% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 18.12%

Computed WACC: 18.12%

Cost of equity (Re)20.75%(Rf 4.30% + β 2.99 × 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)87.31%

Debt weight (D/V)12.69%

Results

Intrinsic Value / share$-2460.55

Current Price$15.12

Upside / Downside-16373.5%

Net Debt (used)-$48.42M

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

WACC \ Near-term	146.4%	150.4%	154.4%	158.4%	162.4%
7.0%	$-15125.89	$-16393.19	$-17744.07	$-19182.58	$-20712.93
8.0%	$-11537.82	$-12504.30	$-13534.51	$-14631.54	$-15798.59
9.0%	$-9110.04	$-9872.98	$-10686.22	$-11552.20	$-12473.45
10.0%	$-7374.07	$-7991.48	$-8649.59	$-9350.37	$-10095.87
11.0%	$-6082.29	$-6591.42	$-7134.09	$-7711.95	$-8326.68

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.39

Book Value / share($)Yahoo: $2.93

Results

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

Graham Number—

Current Price$15.12

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 18.12%

Terminal growth rate(%)

Computed WACC: 18.12%

Cost of equity (Re)20.75%(Rf 4.30% + β 2.99 × 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)87.31%

Debt weight (D/V)12.69%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$15.12

Implied Near-term FCF Growth—

Historical Revenue Growth154.4%

Historical Earnings Growth—

Base FCF (TTM)-$98.40M

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$15.12

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$24.60M

Target EV/EBITDA multipleCurrent: -83.5×

Net Debt($B)Default: -$48.42M

Results

Implied Equity Value / share$15.88

Current Price$15.12

Upside / Downside+5.0%

Implied EV$2.05B

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