IBEX — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($29.03)
DCF	$384.27	+1223.7%
Graham Number	$27.90	-3.9%
Reverse DCF	—	implied g: 1.1%
DDM	—	—
EV/EBITDA	$28.90	-0.4%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $31.42M

Near-term growth (yrs 1–5)(%)Rev: 16.7% / EPS: 45.6%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.61%

Computed WACC: 6.61%

Cost of equity (Re)7.70%(Rf 4.30% + β 0.62 × 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)85.87%

Debt weight (D/V)14.13%

Results

Intrinsic Value / share$679.20

Current Price$29.03

Upside / Downside+2239.6%

Net Debt (used)$48.88M

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

WACC \ Near-term	37.6%	41.6%	45.6%	49.6%	53.6%
7.0%	$460.24	$530.43	$608.93	$696.46	$793.79
8.0%	$359.55	$414.26	$475.42	$543.61	$619.40
9.0%	$290.80	$334.94	$384.27	$439.26	$500.37
10.0%	$241.14	$277.65	$318.45	$363.91	$414.43
11.0%	$203.78	$234.56	$268.95	$307.25	$349.80

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $3.01

Book Value / share($)Yahoo: $11.50

Results

Graham Number$27.90

Current Price$29.03

Margin of Safety-3.9%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.61%

Terminal growth rate(%)

Computed WACC: 6.61%

Cost of equity (Re)7.70%(Rf 4.30% + β 0.62 × 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)85.87%

Debt weight (D/V)14.13%

Results

Current Price$29.03

Implied Near-term FCF Growth-5.8%

Historical Revenue Growth16.7%

Historical Earnings Growth45.6%

Base FCF (TTM)$31.42M

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$29.03

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $74.28M

Target EV/EBITDA multipleCurrent: 5.9×

Net Debt($B)Default: $48.88M

Results

Implied Equity Value / share$28.90

Current Price$29.03

Upside / Downside-0.4%

Implied EV$436.33M

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

Mult \ Net Debt	-$1.95B	-$951.12M	$48.88M	$1.05B	$2.05B
1.9x	$155.93	$81.33	$6.74	$-67.86	$-142.45
3.9x	$167.01	$92.42	$17.82	$-56.78	$-131.37
5.9x	$178.09	$103.50	$28.90	$-45.69	$-120.29
7.9x	$189.18	$114.58	$39.98	$-34.61	$-109.21
9.9x	$200.26	$125.66	$51.07	$-23.53	$-98.13

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