ICHR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($45.36)
DCF	$14.99	-67.0%
Graham Number	—	—
Reverse DCF	—	implied g: 23.0%
DDM	—	—
EV/EBITDA	$48.58	+7.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $33.11M

Near-term growth (yrs 1–5)(%)Rev: -4.2% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 12.45%

Computed WACC: 12.45%

Cost of equity (Re)13.72%(Rf 4.30% + β 1.71 × 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)90.75%

Debt weight (D/V)9.25%

Results

Intrinsic Value / share$9.11

Current Price$45.36

Upside / Downside-79.9%

Net Debt (used)$61.90M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$15.13	$18.56	$22.54	$27.15	$32.45
8.0%	$12.12	$14.88	$18.08	$21.78	$26.03
9.0%	$10.04	$12.33	$14.99	$18.06	$21.59
10.0%	$8.51	$10.46	$12.73	$15.34	$18.34
11.0%	$7.33	$9.03	$11.00	$13.26	$15.86

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.54

Book Value / share($)Yahoo: $19.28

Results

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

Graham Number—

Current Price$45.36

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 12.45%

Terminal growth rate(%)

Computed WACC: 12.45%

Cost of equity (Re)13.72%(Rf 4.30% + β 1.71 × 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)90.75%

Debt weight (D/V)9.25%

Results

Current Price$45.36

Implied Near-term FCF Growth32.8%

Historical Revenue Growth-4.2%

Historical Earnings Growth—

Base FCF (TTM)$33.11M

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$45.36

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $24.68M

Target EV/EBITDA multipleCurrent: 70.7×

Net Debt($B)Default: $61.90M

Results

Implied Equity Value / share$48.58

Current Price$45.36

Upside / Downside+7.1%

Implied EV$1.74B

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

Mult \ Net Debt	-$1.94B	-$938.10M	$61.90M	$1.06B	$2.06B
66.7x	$103.46	$74.60	$45.73	$16.87	$-12.00
68.7x	$104.88	$76.02	$47.16	$18.29	$-10.57
70.7x	$106.31	$77.44	$48.58	$19.72	$-9.15
72.7x	$107.73	$78.87	$50.00	$21.14	$-7.73
74.7x	$109.16	$80.29	$51.43	$22.56	$-6.30

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