GTX — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($19.30)
DCF	$23.71	+22.9%
Graham Number	—	—
Reverse DCF	—	implied g: 2.9%
DDM	$6.59	-65.8%
EV/EBITDA	$20.06	+4.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $318.75M

Near-term growth (yrs 1–5)(%)Rev: 5.6% / EPS: -9.8%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 4.58%

Computed WACC: 4.58%

Cost of equity (Re)6.37%(Rf 4.30% + β 0.38 × 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)71.87%

Debt weight (D/V)28.13%

Results

Intrinsic Value / share$89.86

Current Price$19.30

Upside / Downside+365.7%

Net Debt (used)$1.29B

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

WACC \ Near-term	-2.4%	1.6%	5.6%	9.6%	13.6%
7.0%	$24.08	$30.30	$37.53	$45.90	$55.52
8.0%	$18.55	$23.56	$29.36	$36.07	$43.78
9.0%	$14.72	$18.89	$23.71	$29.28	$35.67
10.0%	$11.92	$15.46	$19.57	$24.30	$29.73
11.0%	$9.77	$12.85	$16.41	$20.51	$25.20

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.52

Book Value / share($)Yahoo: $-4.21

Results

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

Graham Number—

Current Price$19.30

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 4.58%

Terminal growth rate(%)

Computed WACC: 4.58%

Cost of equity (Re)6.37%(Rf 4.30% + β 0.38 × 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)71.87%

Debt weight (D/V)28.13%

Results

Current Price$19.30

Implied Near-term FCF Growth-13.1%

Historical Revenue Growth5.6%

Historical Earnings Growth-9.8%

Base FCF (TTM)$318.75M

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: $0.32

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$6.59

Current Price$19.30

Upside / Downside-65.8%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $605.00M

Target EV/EBITDA multipleCurrent: 8.4×

Net Debt($B)Default: $1.29B

Results

Implied Equity Value / share$20.06

Current Price$19.30

Upside / Downside+4.0%

Implied EV$5.10B

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

Mult \ Net Debt	$1.29B	$1.29B	$1.29B	$1.29B	$1.29B
4.4x	$7.32	$7.32	$7.32	$7.32	$7.32
6.4x	$13.69	$13.69	$13.69	$13.69	$13.69
8.4x	$20.06	$20.06	$20.06	$20.06	$20.06
10.4x	$26.43	$26.43	$26.43	$26.43	$26.43
12.4x	$32.80	$32.80	$32.80	$32.80	$32.80

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