HLIT — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($10.94)
DCF	$21.85	+99.7%
Graham Number	$0.88	-92.0%
Reverse DCF	—	implied g: -6.7%
DDM	—	—
EV/EBITDA	$10.94	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $137.73M

Near-term growth (yrs 1–5)(%)Rev: -55.8% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.06%

Computed WACC: 9.06%

Cost of equity (Re)10.05%(Rf 4.30% + β 1.04 × 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)90.21%

Debt weight (D/V)9.79%

Results

Intrinsic Value / share$21.65

Current Price$10.94

Upside / Downside+97.9%

Net Debt (used)$9.08M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$22.04	$26.51	$31.72	$37.74	$44.68
8.0%	$18.10	$21.70	$25.89	$30.72	$36.28
9.0%	$15.38	$18.37	$21.85	$25.87	$30.48
10.0%	$13.37	$15.93	$18.89	$22.31	$26.23
11.0%	$11.84	$14.06	$16.63	$19.59	$22.98

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.01

Book Value / share($)Yahoo: $3.45

Results

Graham Number$0.88

Current Price$10.94

Margin of Safety-92.0%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.06%

Terminal growth rate(%)

Computed WACC: 9.06%

Cost of equity (Re)10.05%(Rf 4.30% + β 1.04 × 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)90.21%

Debt weight (D/V)9.79%

Results

Current Price$10.94

Implied Near-term FCF Growth-6.5%

Historical Revenue Growth-55.8%

Historical Earnings Growth—

Base FCF (TTM)$137.73M

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$10.94

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $28.11M

Target EV/EBITDA multipleCurrent: 43.2×

Net Debt($B)Default: $9.08M

Results

Implied Equity Value / share$10.94

Current Price$10.94

Upside / Downside-0.0%

Implied EV$1.22B

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

Mult \ Net Debt	-$1.99B	-$990.92M	$9.08M	$1.01B	$2.01B
39.2x	$28.06	$18.99	$9.92	$0.85	$-8.22
41.2x	$28.57	$19.50	$10.43	$1.36	$-7.71
43.2x	$29.08	$20.01	$10.94	$1.87	$-7.20
45.2x	$29.59	$20.52	$11.45	$2.38	$-6.69
47.2x	$30.10	$21.03	$11.96	$2.89	$-6.18

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