GSBD — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($9.06)
DCF	$8.02	-11.4%
Graham Number	$18.16	+100.5%
Reverse DCF	—	implied g: 5.7%
DDM	$29.46	+225.1%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $150.62M

Near-term growth (yrs 1–5)(%)Rev: -17.0% / EPS: -31.9%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 2.84%

Computed WACC: 2.84%

Cost of equity (Re)7.91%(Rf 4.30% + β 0.66 × 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)35.92%

Debt weight (D/V)64.08%

Results

Intrinsic Value / share$433.38

Current Price$9.06

Upside / Downside+4683.4%

Net Debt (used)$1.73B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$8.22	$12.95	$18.45	$24.81	$32.14
8.0%	$4.06	$7.87	$12.29	$17.39	$23.27
9.0%	$1.18	$4.35	$8.02	$12.26	$17.14
10.0%	$-0.93	$1.77	$4.90	$8.51	$12.65
11.0%	$-2.55	$-0.21	$2.51	$5.63	$9.22

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.15

Book Value / share($)Yahoo: $12.75

Results

Graham Number$18.16

Current Price$9.06

Margin of Safety+100.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 2.84%

Terminal growth rate(%)

Computed WACC: 2.84%

Cost of equity (Re)7.91%(Rf 4.30% + β 0.66 × 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)35.92%

Debt weight (D/V)64.08%

Results

Current Price$9.06

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth-17.0%

Historical Earnings Growth-31.9%

Base FCF (TTM)$150.62M

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: $1.43

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$29.46

Current Price$9.06

Upside / Downside+225.1%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: $1.73B

Results

Implied Equity Value / share$-15.15

Current Price$9.06

Upside / Downside-267.2%

Implied EV$0

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