IBRX — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($10.44)
DCF	$-1310333.27	-12551184.9%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$213.36M

Near-term growth (yrs 1–5)(%)Rev: 407.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 4.01%

Computed WACC: 4.01%

Cost of equity (Re)3.88%(Rf 4.30% + β -0.08 × ERP 5.50%)

Cost of debt (Rd)7.21%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)92.70%

Debt weight (D/V)7.30%

Results

Intrinsic Value / share$-8385216.81

Current Price$10.44

Upside / Downside-80318268.7%

Net Debt (used)$601.90M

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

WACC \ Near-term	399.0%	403.0%	407.0%	411.0%	415.0%
7.0%	$-2044106.56	$-2127357.40	$-2213298.89	$-2301995.71	$-2393513.60
8.0%	$-1545972.91	$-1608935.85	$-1673933.73	$-1741015.48	$-1810230.80
9.0%	$-1210167.67	$-1259454.02	$-1310333.27	$-1362843.72	$-1417024.31
10.0%	$-971027.99	$-1010574.72	$-1051399.56	$-1093533.26	$-1137007.04
11.0%	$-793856.66	$-826187.60	$-859563.45	$-894009.34	$-929550.79

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.38

Book Value / share($)Yahoo: $-0.49

Results

Graham Number requires positive EPS and positive Book Value per share. EPS is zero or negative. BVPS is zero or negative.

Graham Number—

Current Price$10.44

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 4.01%

Terminal growth rate(%)

Computed WACC: 4.01%

Cost of equity (Re)3.88%(Rf 4.30% + β -0.08 × ERP 5.50%)

Cost of debt (Rd)7.21%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)92.70%

Debt weight (D/V)7.30%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$10.44

Implied Near-term FCF Growth—

Historical Revenue Growth407.0%

Historical Earnings Growth—

Base FCF (TTM)-$213.36M

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$10.44

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$240.60M

Target EV/EBITDA multipleCurrent: -47.1×

Net Debt($B)Default: $601.90M

Results

Implied Equity Value / share$10.44

Current Price$10.44

Upside / Downside+0.0%

Implied EV$11.34B

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