FSI — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($5.39)
DCF	$-9.95	-284.7%
Graham Number	$3.11	-42.3%
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$5.67	+5.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$4.52M

Near-term growth (yrs 1–5)(%)Rev: 13.3% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 11.93%

Computed WACC: 11.93%

Cost of equity (Re)13.26%(Rf 4.30% + β 1.63 × 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)89.96%

Debt weight (D/V)10.04%

Results

Intrinsic Value / share$-6.55

Current Price$5.39

Upside / Downside-221.4%

Net Debt (used)-$2.23M

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

WACC \ Near-term	5.3%	9.3%	13.3%	17.3%	21.3%
7.0%	$-10.52	$-12.57	$-14.93	$-17.63	$-20.72
8.0%	$-8.48	$-10.12	$-11.99	$-14.14	$-16.60
9.0%	$-7.08	$-8.42	$-9.97	$-11.74	$-13.76
10.0%	$-6.05	$-7.19	$-8.49	$-9.99	$-11.69
11.0%	$-5.27	$-6.25	$-7.37	$-8.66	$-10.12

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.14

Book Value / share($)Yahoo: $3.07

Results

Graham Number$3.11

Current Price$5.39

Margin of Safety-42.3%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 11.93%

Terminal growth rate(%)

Computed WACC: 11.93%

Cost of equity (Re)13.26%(Rf 4.30% + β 1.63 × 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)89.96%

Debt weight (D/V)10.04%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$5.39

Implied Near-term FCF Growth—

Historical Revenue Growth13.3%

Historical Earnings Growth—

Base FCF (TTM)-$4.52M

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$5.39

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $6.51M

Target EV/EBITDA multipleCurrent: 10.7×

Net Debt($B)Default: -$2.23M

Results

Implied Equity Value / share$5.67

Current Price$5.39

Upside / Downside+5.1%

Implied EV$69.70M

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

Mult \ Net Debt	-$2.00B	-$1.00B	-$2.23M	$997.77M	$2.00B
6.7x	$161.19	$82.40	$3.61	$-75.17	$-153.96
8.7x	$162.21	$83.43	$4.64	$-74.15	$-152.93
10.7x	$163.24	$84.45	$5.67	$-73.12	$-151.91
12.7x	$164.27	$85.48	$6.69	$-72.09	$-150.88
14.7x	$165.29	$86.51	$7.72	$-71.07	$-149.85

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