FMNB — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($13.07)
DCF	$-7.31	-156.0%
Graham Number	$20.51	+57.0%
Reverse DCF	—	—
DDM	$14.01	+7.2%
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: 6.7% / EPS: 3.5%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.02%

Computed WACC: 5.02%

Cost of equity (Re)8.78%(Rf 4.30% + β 0.81 × 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)57.23%

Debt weight (D/V)42.77%

Results

Intrinsic Value / share$-7.31

Current Price$13.07

Upside / Downside-156.0%

Net Debt (used)$275.38M

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

WACC \ Near-term	-1.3%	2.7%	6.7%	10.7%	14.7%
7.0%	$-7.31	$-7.31	$-7.31	$-7.31	$-7.31
8.0%	$-7.31	$-7.31	$-7.31	$-7.31	$-7.31
9.0%	$-7.31	$-7.31	$-7.31	$-7.31	$-7.31
10.0%	$-7.31	$-7.31	$-7.31	$-7.31	$-7.31
11.0%	$-7.31	$-7.31	$-7.31	$-7.31	$-7.31

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.45

Book Value / share($)Yahoo: $12.90

Results

Graham Number$20.51

Current Price$13.07

Margin of Safety+57.0%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.02%

Terminal growth rate(%)

Computed WACC: 5.02%

Cost of equity (Re)8.78%(Rf 4.30% + β 0.81 × 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)57.23%

Debt weight (D/V)42.77%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$13.07

Implied Near-term FCF Growth—

Historical Revenue Growth6.7%

Historical Earnings Growth3.5%

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$13.07

Upside / Downside+7.2%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: $275.38M

Results

Implied Equity Value / share$-7.31

Current Price$13.07

Upside / Downside-156.0%

Implied EV$0

← Overview Financial Statements ← Companies