HSTM — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($21.37)
DCF	$33.07	+54.8%
Graham Number	$12.82	-40.0%
Reverse DCF	—	implied g: -0.4%
DDM	$2.68	-87.5%
EV/EBITDA	$21.15	-1.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $46.60M

Near-term growth (yrs 1–5)(%)Rev: 7.4% / EPS: -46.5%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.53%

Computed WACC: 6.53%

Cost of equity (Re)6.71%(Rf 4.30% + β 0.44 × 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)97.30%

Debt weight (D/V)2.70%

Results

Intrinsic Value / share$53.30

Current Price$21.37

Upside / Downside+149.4%

Net Debt (used)-$39.43M

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

WACC \ Near-term	-0.6%	3.4%	7.4%	11.4%	15.4%
7.0%	$33.78	$40.24	$47.73	$56.38	$66.32
8.0%	$27.87	$33.06	$39.06	$45.99	$53.93
9.0%	$23.79	$28.09	$33.07	$38.81	$45.38
10.0%	$20.79	$24.46	$28.69	$33.55	$39.12
11.0%	$18.51	$21.68	$25.34	$29.55	$34.36

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.61

Book Value / share($)Yahoo: $11.97

Results

Graham Number$12.82

Current Price$21.37

Margin of Safety-40.0%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.53%

Terminal growth rate(%)

Computed WACC: 6.53%

Cost of equity (Re)6.71%(Rf 4.30% + β 0.44 × 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)97.30%

Debt weight (D/V)2.70%

Results

Current Price$21.37

Implied Near-term FCF Growth-7.5%

Historical Revenue Growth7.4%

Historical Earnings Growth-46.5%

Base FCF (TTM)$46.60M

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: $0.13

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$2.68

Current Price$21.37

Upside / Downside-87.5%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $38.31M

Target EV/EBITDA multipleCurrent: 15.3×

Net Debt($B)Default: -$39.43M

Results

Implied Equity Value / share$21.15

Current Price$21.37

Upside / Downside-1.0%

Implied EV$587.93M

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

Mult \ Net Debt	-$2.04B	-$1.04B	-$39.43M	$960.57M	$1.96B
11.3x	$83.39	$49.69	$15.98	$-17.73	$-51.43
13.3x	$85.98	$52.27	$18.56	$-15.14	$-48.85
15.3x	$88.56	$54.85	$21.15	$-12.56	$-46.27
17.3x	$91.14	$57.43	$23.73	$-9.98	$-43.68
19.3x	$93.72	$60.02	$26.31	$-7.39	$-41.10

← Overview Financial Statements ← Companies