GAIN — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($13.83)
DCF	$220.78	+1496.4%
Graham Number	$32.61	+135.8%
Reverse DCF	—	implied g: 18.1%
DDM	$19.78	+43.0%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $29.84M

Near-term growth (yrs 1–5)(%)Rev: 17.3% / EPS: 58.5%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 4.28%

Computed WACC: 4.28%

Cost of equity (Re)8.72%(Rf 4.30% + β 0.80 × 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)49.06%

Debt weight (D/V)50.94%

Results

Intrinsic Value / share$1087.83

Current Price$13.83

Upside / Downside+7765.7%

Net Debt (used)$570.46M

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

WACC \ Near-term	50.5%	54.5%	58.5%	62.5%	66.5%
7.0%	$277.19	$317.59	$362.36	$411.87	$466.46
8.0%	$212.36	$243.68	$278.39	$316.76	$359.07
9.0%	$168.19	$193.33	$221.19	$251.98	$285.92
10.0%	$136.36	$157.05	$179.97	$205.30	$233.22
11.0%	$112.48	$129.83	$149.05	$170.29	$193.69

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $3.16

Book Value / share($)Yahoo: $14.95

Results

Graham Number$32.61

Current Price$13.83

Margin of Safety+135.8%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 4.28%

Terminal growth rate(%)

Computed WACC: 4.28%

Cost of equity (Re)8.72%(Rf 4.30% + β 0.80 × 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)49.06%

Debt weight (D/V)50.94%

Results

Current Price$13.83

Implied Near-term FCF Growth-2.8%

Historical Revenue Growth17.3%

Historical Earnings Growth58.5%

Base FCF (TTM)$29.84M

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: $0.96

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$19.78

Current Price$13.83

Upside / Downside+43.0%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: $570.46M

Results

Implied Equity Value / share$-14.33

Current Price$13.83

Upside / Downside-203.6%

Implied EV$0

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