HQI — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($12.18)
DCF	$13.99	+14.9%
Graham Number	$7.51	-38.3%
Reverse DCF	—	implied g: 2.7%
DDM	$4.94	-59.4%
EV/EBITDA	$11.95	-1.9%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $11.27M

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

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.68%

Computed WACC: 9.68%

Cost of equity (Re)9.80%(Rf 4.30% + β 1.00 × 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)98.73%

Debt weight (D/V)1.27%

Results

Intrinsic Value / share$12.64

Current Price$12.18

Upside / Downside+3.8%

Net Debt (used)$1.10M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$14.11	$16.98	$20.32	$24.19	$28.64
8.0%	$11.59	$13.90	$16.58	$19.68	$23.25
9.0%	$9.84	$11.76	$13.99	$16.57	$19.53
10.0%	$8.55	$10.19	$12.09	$14.29	$16.80
11.0%	$7.57	$9.00	$10.64	$12.54	$14.72

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.52

Book Value / share($)Yahoo: $4.83

Results

Graham Number$7.51

Current Price$12.18

Margin of Safety-38.3%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.68%

Terminal growth rate(%)

Computed WACC: 9.68%

Cost of equity (Re)9.80%(Rf 4.30% + β 1.00 × 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)98.73%

Debt weight (D/V)1.27%

Results

Current Price$12.18

Implied Near-term FCF Growth4.4%

Historical Revenue Growth-9.8%

Historical Earnings Growth—

Base FCF (TTM)$11.27M

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: $0.24

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$4.94

Current Price$12.18

Upside / Downside-59.4%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $10.38M

Target EV/EBITDA multipleCurrent: 16.3×

Net Debt($B)Default: $1.10M

Results

Implied Equity Value / share$11.95

Current Price$12.18

Upside / Downside-1.9%

Implied EV$169.03M

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

Mult \ Net Debt	-$2.00B	-$998.90M	$1.10M	$1.00B	$2.00B
12.3x	$151.29	$80.14	$8.99	$-62.15	$-133.30
14.3x	$152.76	$81.62	$10.47	$-60.68	$-131.82
16.3x	$154.24	$83.09	$11.95	$-59.20	$-130.35
18.3x	$155.72	$84.57	$13.43	$-57.72	$-128.87
20.3x	$157.20	$86.05	$14.90	$-56.24	$-127.39

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