GDEN — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($29.31)
DCF	$8.11	-72.3%
Graham Number	$8.92	-69.6%
Reverse DCF	—	implied g: 15.3%
DDM	$20.60	-29.7%
EV/EBITDA	$28.93	-1.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $38.44M

Near-term growth (yrs 1–5)(%)Rev: -5.2% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.33%

Computed WACC: 7.33%

Cost of equity (Re)12.07%(Rf 4.30% + β 1.41 × ERP 5.50%)

Cost of debt (Rd)0.38%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)59.70%

Debt weight (D/V)40.30%

Results

Intrinsic Value / share$17.13

Current Price$29.31

Upside / Downside-41.6%

Net Debt (used)$462.63M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$8.33	$13.59	$19.70	$26.78	$34.94
8.0%	$3.70	$7.93	$12.85	$18.53	$25.07
9.0%	$0.49	$4.02	$8.11	$12.82	$18.25
10.0%	$-1.86	$1.15	$4.63	$8.64	$13.25
11.0%	$-3.66	$-1.05	$1.97	$5.45	$9.44

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.22

Book Value / share($)Yahoo: $16.07

Results

Graham Number$8.92

Current Price$29.31

Margin of Safety-69.6%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.33%

Terminal growth rate(%)

Computed WACC: 7.33%

Cost of equity (Re)12.07%(Rf 4.30% + β 1.41 × ERP 5.50%)

Cost of debt (Rd)0.38%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)59.70%

Debt weight (D/V)40.30%

Results

Current Price$29.31

Implied Near-term FCF Growth9.9%

Historical Revenue Growth-5.2%

Historical Earnings Growth—

Base FCF (TTM)$38.44M

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: $1.00

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$20.60

Current Price$29.31

Upside / Downside-29.7%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $122.05M

Target EV/EBITDA multipleCurrent: 10.0×

Net Debt($B)Default: $462.63M

Results

Implied Equity Value / share$28.93

Current Price$29.31

Upside / Downside-1.3%

Implied EV$1.22B

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

Mult \ Net Debt	-$1.54B	-$537.37M	$462.63M	$1.46B	$2.46B
6.0x	$86.69	$48.48	$10.28	$-27.93	$-66.14
8.0x	$96.01	$57.81	$19.60	$-18.60	$-56.81
10.0x	$105.34	$67.13	$28.93	$-9.28	$-47.48
12.0x	$114.67	$76.46	$38.25	$0.05	$-38.16
14.0x	$123.99	$85.79	$47.58	$9.38	$-28.83

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