FLXS — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($48.52)
DCF	$89.63	+84.7%
Graham Number	$52.49	+8.2%
Reverse DCF	—	implied g: -0.9%
DDM	$15.86	-67.3%
EV/EBITDA	$50.33	+3.7%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $22.46M

Near-term growth (yrs 1–5)(%)Rev: 9.0% / EPS: -27.2%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.70%

Computed WACC: 5.70%

Cost of equity (Re)6.91%(Rf 4.30% + β 0.47 × ERP 5.50%)

Cost of debt (Rd)0.13%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)82.28%

Debt weight (D/V)17.72%

Results

Intrinsic Value / share$191.38

Current Price$48.52

Upside / Downside+294.4%

Net Debt (used)$19.10M

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

WACC \ Near-term	1.0%	5.0%	9.0%	13.0%	17.0%
7.0%	$92.54	$111.47	$133.39	$158.65	$187.62
8.0%	$74.81	$89.97	$107.51	$127.69	$150.81
9.0%	$62.55	$75.12	$89.63	$106.32	$125.42
10.0%	$53.58	$64.25	$76.56	$90.70	$106.86
11.0%	$46.73	$55.96	$66.60	$78.79	$92.73

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $3.66

Book Value / share($)Yahoo: $33.46

Results

Graham Number$52.49

Current Price$48.52

Margin of Safety+8.2%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.70%

Terminal growth rate(%)

Computed WACC: 5.70%

Cost of equity (Re)6.91%(Rf 4.30% + β 0.47 × ERP 5.50%)

Cost of debt (Rd)0.13%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)82.28%

Debt weight (D/V)17.72%

Results

Current Price$48.52

Implied Near-term FCF Growth-10.9%

Historical Revenue Growth9.0%

Historical Earnings Growth-27.2%

Base FCF (TTM)$22.46M

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: $0.77

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$15.86

Current Price$48.52

Upside / Downside-67.3%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $40.02M

Target EV/EBITDA multipleCurrent: 7.2×

Net Debt($B)Default: $19.10M

Results

Implied Equity Value / share$50.33

Current Price$48.52

Upside / Downside+3.7%

Implied EV$288.13M

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

Mult \ Net Debt	-$1.98B	-$980.90M	$19.10M	$1.02B	$2.02B
3.2x	$394.52	$207.45	$20.38	$-166.69	$-353.77
5.2x	$409.50	$222.43	$35.35	$-151.72	$-338.79
7.2x	$424.47	$237.40	$50.33	$-136.75	$-323.82
9.2x	$439.45	$252.37	$65.30	$-121.77	$-308.84
11.2x	$454.42	$267.35	$80.28	$-106.80	$-293.87

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