HFFG — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($2.09)
DCF	$-1.28	-161.3%
Graham Number	—	—
Reverse DCF	—	implied g: 18.1%
DDM	—	—
EV/EBITDA	$2.04	-2.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $8.95M

Near-term growth (yrs 1–5)(%)Rev: 2.9% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 2.12%

Computed WACC: 2.12%

Cost of equity (Re)6.66%(Rf 4.30% + β 0.43 × 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)31.83%

Debt weight (D/V)68.17%

Results

Intrinsic Value / share—

Current Price$2.09

Upside / Downside—

Net Debt (used)$225.12M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-1.26	$-0.65	$0.05	$0.86	$1.80
8.0%	$-1.79	$-1.30	$-0.74	$-0.08	$0.67
9.0%	$-2.16	$-1.75	$-1.28	$-0.74	$-0.12
10.0%	$-2.43	$-2.08	$-1.68	$-1.22	$-0.69
11.0%	$-2.63	$-2.33	$-1.99	$-1.59	$-1.13

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.86

Book Value / share($)Yahoo: $4.51

Results

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

Graham Number—

Current Price$2.09

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 2.12%

Terminal growth rate(%)

Computed WACC: 2.12%

Cost of equity (Re)6.66%(Rf 4.30% + β 0.43 × 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)31.83%

Debt weight (D/V)68.17%

Results

Current Price$2.09

Implied Near-term FCF Growth65.0%

Historical Revenue Growth2.9%

Historical Earnings Growth—

Base FCF (TTM)$8.95M

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: —

Dividend growth rate (g)(%)

Required return (r)(%)

Results

This company does not pay a dividend. DDM is not applicable — the intrinsic value shown uses D0 = $0 unless you enter a hypothetical dividend above.

DDM Intrinsic Value / share—

Current Price$2.09

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $38.52M

Target EV/EBITDA multipleCurrent: 8.7×

Net Debt($B)Default: $225.12M

Results

Implied Equity Value / share$2.04

Current Price$2.09

Upside / Downside-2.3%

Implied EV$333.39M

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

Mult \ Net Debt	-$1.77B	-$774.88M	$225.12M	$1.23B	$2.23B
4.7x	$36.84	$17.99	$-0.86	$-19.72	$-38.57
6.7x	$38.29	$19.44	$0.59	$-18.26	$-37.12
8.7x	$39.75	$20.89	$2.04	$-16.81	$-35.66
10.7x	$41.20	$22.35	$3.49	$-15.36	$-34.21
12.7x	$42.65	$23.80	$4.95	$-13.91	$-32.76

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