FNKO — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($4.69)
DCF	$4.36	-7.0%
Graham Number	—	—
Reverse DCF	—	implied g: 5.6%
DDM	—	—
EV/EBITDA	$4.71	+0.4%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $29.15M

Near-term growth (yrs 1–5)(%)Rev: -14.3% / EPS: -79.4%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 3.33%

Computed WACC: 3.33%

Cost of equity (Re)7.39%(Rf 4.30% + β 0.56 × 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)45.12%

Debt weight (D/V)54.88%

Results

Intrinsic Value / share$69.07

Current Price$4.69

Upside / Downside+1372.6%

Net Debt (used)$273.06M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$4.44	$6.35	$8.57	$11.14	$14.09
8.0%	$2.76	$4.30	$6.08	$8.14	$10.51
9.0%	$1.60	$2.88	$4.36	$6.07	$8.04
10.0%	$0.75	$1.84	$3.10	$4.56	$6.23
11.0%	$0.09	$1.04	$2.14	$3.40	$4.84

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.26

Book Value / share($)Yahoo: $3.34

Results

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

Graham Number—

Current Price$4.69

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 3.33%

Terminal growth rate(%)

Computed WACC: 3.33%

Cost of equity (Re)7.39%(Rf 4.30% + β 0.56 × 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)45.12%

Debt weight (D/V)54.88%

Results

Current Price$4.69

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth-14.3%

Historical Earnings Growth-79.4%

Base FCF (TTM)$29.15M

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$4.69

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $16.49M

Target EV/EBITDA multipleCurrent: 32.2×

Net Debt($B)Default: $273.06M

Results

Implied Equity Value / share$4.71

Current Price$4.69

Upside / Downside+0.4%

Implied EV$530.73M

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

Mult \ Net Debt	-$1.73B	-$726.94M	$273.06M	$1.27B	$2.27B
28.2x	$40.04	$21.77	$3.50	$-14.77	$-33.03
30.2x	$40.64	$22.37	$4.10	$-14.16	$-32.43
32.2x	$41.24	$22.97	$4.71	$-13.56	$-31.83
34.2x	$41.84	$23.58	$5.31	$-12.96	$-31.22
36.2x	$42.45	$24.18	$5.91	$-12.36	$-30.62

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