FLYW — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($12.35)
DCF	$91.09	+637.6%
Graham Number	—	—
Reverse DCF	—	implied g: -5.2%
DDM	—	—
EV/EBITDA	$12.53	+1.4%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $117.50M

Near-term growth (yrs 1–5)(%)Rev: 34.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 11.31%

Computed WACC: 11.31%

Cost of equity (Re)11.33%(Rf 4.30% + β 1.28 × 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)99.75%

Debt weight (D/V)0.25%

Results

Intrinsic Value / share$63.00

Current Price$12.35

Upside / Downside+410.1%

Net Debt (used)-$351.26M

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

WACC \ Near-term	26.0%	30.0%	34.0%	38.0%	42.0%
7.0%	$104.47	$121.16	$140.01	$161.21	$184.99
8.0%	$83.10	$96.19	$110.97	$127.58	$146.21
9.0%	$68.48	$79.10	$91.09	$104.57	$119.67
10.0%	$57.88	$66.73	$76.70	$87.90	$100.45
11.0%	$49.89	$57.39	$65.84	$75.33	$85.97

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.02

Book Value / share($)Yahoo: $6.85

Results

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

Graham Number—

Current Price$12.35

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 11.31%

Terminal growth rate(%)

Computed WACC: 11.31%

Cost of equity (Re)11.33%(Rf 4.30% + β 1.28 × 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)99.75%

Debt weight (D/V)0.25%

Results

Current Price$12.35

Implied Near-term FCF Growth-0.3%

Historical Revenue Growth34.0%

Historical Earnings Growth—

Base FCF (TTM)$117.50M

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$12.35

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $41.94M

Target EV/EBITDA multipleCurrent: 27.5×

Net Debt($B)Default: -$351.26M

Results

Implied Equity Value / share$12.53

Current Price$12.35

Upside / Downside+1.4%

Implied EV$1.16B

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

Mult \ Net Debt	-$2.35B	-$1.35B	-$351.26M	$648.74M	$1.65B
23.5x	$27.76	$19.45	$11.13	$2.82	$-5.50
25.5x	$28.46	$20.15	$11.83	$3.51	$-4.80
27.5x	$29.16	$20.84	$12.53	$4.21	$-4.10
29.5x	$29.86	$21.54	$13.23	$4.91	$-3.41
31.5x	$30.55	$22.24	$13.92	$5.61	$-2.71

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