GNE — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($14.69)
DCF	$24.40	+66.1%
Graham Number	$6.99	-52.4%
Reverse DCF	—	implied g: 12.2%
DDM	$6.18	-57.9%
EV/EBITDA	$15.22	+3.6%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $9.94M

Near-term growth (yrs 1–5)(%)Rev: 23.6% / EPS: -32.0%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 4.92%

Computed WACC: 4.92%

Cost of equity (Re)4.94%(Rf 4.30% + β 0.12 × ERP 5.50%)

Cost of debt (Rd)5.35%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)97.56%

Debt weight (D/V)2.44%

Results

Intrinsic Value / share$65.54

Current Price$14.69

Upside / Downside+346.2%

Net Debt (used)-$99.95M

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

WACC \ Near-term	15.6%	19.6%	23.6%	27.6%	31.6%
7.0%	$26.56	$30.56	$35.12	$40.30	$46.16
8.0%	$22.00	$25.16	$28.76	$32.85	$37.47
9.0%	$18.87	$21.46	$24.40	$27.73	$31.50
10.0%	$16.60	$18.76	$21.23	$24.02	$27.17
11.0%	$14.88	$16.73	$18.83	$21.21	$23.89

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.29

Book Value / share($)Yahoo: $7.49

Results

Graham Number$6.99

Current Price$14.69

Margin of Safety-52.4%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 4.92%

Terminal growth rate(%)

Computed WACC: 4.92%

Cost of equity (Re)4.94%(Rf 4.30% + β 0.12 × ERP 5.50%)

Cost of debt (Rd)5.35%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)97.56%

Debt weight (D/V)2.44%

Results

Current Price$14.69

Implied Near-term FCF Growth-3.5%

Historical Revenue Growth23.6%

Historical Earnings Growth-32.0%

Base FCF (TTM)$9.94M

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: $0.30

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$6.18

Current Price$14.69

Upside / Downside-57.9%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $34.27M

Target EV/EBITDA multipleCurrent: 8.1×

Net Debt($B)Default: -$99.95M

Results

Implied Equity Value / share$15.22

Current Price$14.69

Upside / Downside+3.6%

Implied EV$279.28M

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

Mult \ Net Debt	-$2.10B	-$1.10B	-$99.95M	$900.05M	$1.90B
4.1x	$89.97	$49.84	$9.72	$-30.41	$-70.54
6.1x	$92.72	$52.59	$12.47	$-27.66	$-67.79
8.1x	$95.47	$55.35	$15.22	$-24.91	$-65.04
10.1x	$98.22	$58.10	$17.97	$-22.16	$-62.29
12.1x	$100.97	$60.85	$20.72	$-19.41	$-59.54

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