GNK — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($23.96)
DCF	$-4.43	-118.5%
Graham Number	—	—
Reverse DCF	—	—
DDM	$19.57	-18.3%
EV/EBITDA	$24.48	+2.2%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$1.15M

Near-term growth (yrs 1–5)(%)Rev: 10.8% / EPS: 21.7%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.88%

Computed WACC: 8.88%

Cost of equity (Re)10.54%(Rf 4.30% + β 1.14 × 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)84.21%

Debt weight (D/V)15.79%

Results

Intrinsic Value / share$-4.45

Current Price$23.96

Upside / Downside-118.6%

Net Debt (used)$139.08M

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

WACC \ Near-term	13.7%	17.7%	21.7%	25.7%	29.7%
7.0%	$-4.54	$-4.78	$-5.06	$-5.37	$-5.72
8.0%	$-4.28	$-4.47	$-4.68	$-4.93	$-5.21
9.0%	$-4.09	$-4.25	$-4.42	$-4.63	$-4.85
10.0%	$-3.96	$-4.09	$-4.24	$-4.41	$-4.60
11.0%	$-3.86	$-3.97	$-4.10	$-4.24	$-4.40

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.10

Book Value / share($)Yahoo: $20.73

Results

Graham Number requires positive EPS and positive Book Value per share. EPS is zero or negative.

Graham Number—

Current Price$23.96

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.88%

Terminal growth rate(%)

Computed WACC: 8.88%

Cost of equity (Re)10.54%(Rf 4.30% + β 1.14 × 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)84.21%

Debt weight (D/V)15.79%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$23.96

Implied Near-term FCF Growth—

Historical Revenue Growth10.8%

Historical Earnings Growth21.7%

Base FCF (TTM)-$1.15M

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: $0.95

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$19.57

Current Price$23.96

Upside / Downside-18.3%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $60.89M

Target EV/EBITDA multipleCurrent: 19.7×

Net Debt($B)Default: $139.08M

Results

Implied Equity Value / share$24.48

Current Price$23.96

Upside / Downside+2.2%

Implied EV$1.20B

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

Mult \ Net Debt	-$1.86B	-$860.92M	$139.08M	$1.14B	$2.14B
15.7x	$65.03	$41.94	$18.86	$-4.23	$-27.31
17.7x	$67.84	$44.75	$21.67	$-1.42	$-24.50
19.7x	$70.65	$47.57	$24.48	$1.40	$-21.69
21.7x	$73.46	$50.38	$27.29	$4.21	$-18.88
23.7x	$76.27	$53.19	$30.10	$7.02	$-16.07

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