FSTR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($30.73)
DCF	$42.05	+36.8%
Graham Number	$13.14	-57.2%
Reverse DCF	—	implied g: 0.6%
DDM	—	—
EV/EBITDA	$30.80	+0.2%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $29.50M

Near-term growth (yrs 1–5)(%)Rev: 0.6% / EPS: -87.8%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.76%

Computed WACC: 7.76%

Cost of equity (Re)9.77%(Rf 4.30% + β 0.99 × 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)79.41%

Debt weight (D/V)20.59%

Results

Intrinsic Value / share$53.94

Current Price$30.73

Upside / Downside+75.5%

Net Debt (used)$80.92M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$42.48	$52.64	$64.47	$78.16	$93.92
8.0%	$33.54	$41.72	$51.22	$62.20	$74.84
9.0%	$27.34	$34.15	$42.05	$51.17	$61.65
10.0%	$22.79	$28.60	$35.33	$43.09	$51.99
11.0%	$19.30	$24.35	$30.19	$36.92	$44.62

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.45

Book Value / share($)Yahoo: $17.06

Results

Graham Number$13.14

Current Price$30.73

Margin of Safety-57.2%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.76%

Terminal growth rate(%)

Computed WACC: 7.76%

Cost of equity (Re)9.77%(Rf 4.30% + β 0.99 × 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)79.41%

Debt weight (D/V)20.59%

Results

Current Price$30.73

Implied Near-term FCF Growth-2.7%

Historical Revenue Growth0.6%

Historical Earnings Growth-87.8%

Base FCF (TTM)$29.50M

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$30.73

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $32.93M

Target EV/EBITDA multipleCurrent: 12.2×

Net Debt($B)Default: $80.92M

Results

Implied Equity Value / share$30.80

Current Price$30.73

Upside / Downside+0.2%

Implied EV$401.08M

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

Mult \ Net Debt	-$1.92B	-$919.08M	$80.92M	$1.08B	$2.08B
8.2x	$210.57	$114.35	$18.13	$-78.09	$-174.31
10.2x	$216.91	$120.69	$24.47	$-71.75	$-167.97
12.2x	$223.24	$127.02	$30.80	$-65.41	$-161.63
14.2x	$229.58	$133.36	$37.14	$-59.08	$-155.30
16.2x	$235.92	$139.70	$43.48	$-52.74	$-148.96

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