HBNC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($16.82)
DCF	$-5.12	-130.4%
Graham Number	—	—
Reverse DCF	—	—
DDM	$13.18	-21.6%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: —

Near-term growth (yrs 1–5)(%)Rev: 218.7% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.97%

Computed WACC: 5.97%

Cost of equity (Re)8.77%(Rf 4.30% + β 0.81 × 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)68.06%

Debt weight (D/V)31.94%

Results

Intrinsic Value / share$-5.12

Current Price$16.82

Upside / Downside-130.4%

Net Debt (used)$261.15M

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

WACC \ Near-term	210.7%	214.7%	218.7%	222.7%	226.7%
7.0%	$-5.12	$-5.12	$-5.12	$-5.12	$-5.12
8.0%	$-5.12	$-5.12	$-5.12	$-5.12	$-5.12
9.0%	$-5.12	$-5.12	$-5.12	$-5.12	$-5.12
10.0%	$-5.12	$-5.12	$-5.12	$-5.12	$-5.12
11.0%	$-5.12	$-5.12	$-5.12	$-5.12	$-5.12

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-3.41

Book Value / share($)Yahoo: $12.96

Results

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

Graham Number—

Current Price$16.82

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.97%

Terminal growth rate(%)

Computed WACC: 5.97%

Cost of equity (Re)8.77%(Rf 4.30% + β 0.81 × 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)68.06%

Debt weight (D/V)31.94%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$16.82

Implied Near-term FCF Growth—

Historical Revenue Growth218.7%

Historical Earnings Growth—

Base FCF (TTM)—

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: $0.64

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$13.18

Current Price$16.82

Upside / Downside-21.6%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: $261.15M

Results

Implied Equity Value / share$-5.12

Current Price$16.82

Upside / Downside-130.4%

Implied EV$0

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