HLX — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($9.31)
DCF	$18.99	+103.9%
Graham Number	$8.22	-11.7%
Reverse DCF	—	implied g: -6.0%
DDM	—	—
EV/EBITDA	$9.32	+0.2%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $169.58M

Near-term growth (yrs 1–5)(%)Rev: -5.9% / EPS: -56.9%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.53%

Computed WACC: 7.53%

Cost of equity (Re)11.00%(Rf 4.30% + β 1.22 × 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)68.50%

Debt weight (D/V)31.50%

Results

Intrinsic Value / share$24.97

Current Price$9.31

Upside / Downside+168.2%

Net Debt (used)$184.55M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$19.16	$23.29	$28.09	$33.65	$40.05
8.0%	$15.53	$18.85	$22.71	$27.17	$32.31
9.0%	$13.01	$15.78	$18.99	$22.69	$26.95
10.0%	$11.16	$13.52	$16.26	$19.41	$23.03
11.0%	$9.75	$11.80	$14.17	$16.90	$20.03

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.28

Book Value / share($)Yahoo: $10.73

Results

Graham Number$8.22

Current Price$9.31

Margin of Safety-11.7%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.53%

Terminal growth rate(%)

Computed WACC: 7.53%

Cost of equity (Re)11.00%(Rf 4.30% + β 1.22 × 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)68.50%

Debt weight (D/V)31.50%

Results

Current Price$9.31

Implied Near-term FCF Growth-9.7%

Historical Revenue Growth-5.9%

Historical Earnings Growth-56.9%

Base FCF (TTM)$169.58M

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$9.31

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $217.74M

Target EV/EBITDA multipleCurrent: 7.1×

Net Debt($B)Default: $184.55M

Results

Implied Equity Value / share$9.32

Current Price$9.31

Upside / Downside+0.2%

Implied EV$1.56B

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

Mult \ Net Debt	-$1.82B	-$815.45M	$184.55M	$1.18B	$2.18B
3.1x	$17.00	$10.20	$3.40	$-3.40	$-10.20
5.1x	$19.96	$13.16	$6.36	$-0.44	$-7.23
7.1x	$22.92	$16.12	$9.32	$2.53	$-4.27
9.1x	$25.88	$19.08	$12.28	$5.49	$-1.31
11.1x	$28.84	$22.04	$15.25	$8.45	$1.65

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