IHT — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($1.07)
DCF	$-2.08	-294.1%
Graham Number	—	—
Reverse DCF	—	—
DDM	$0.41	-61.5%
EV/EBITDA	$0.63	-41.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$321,134

Near-term growth (yrs 1–5)(%)Rev: -1.1% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 3.65%

Computed WACC: 3.65%

Cost of equity (Re)3.58%(Rf 4.30% + β -0.13 × ERP 5.50%)

Cost of debt (Rd)4.67%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)42.20%

Debt weight (D/V)57.80%

Results

Intrinsic Value / share$-4.96

Current Price$1.07

Upside / Downside-563.8%

Net Debt (used)$13.48M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-2.08	$-2.21	$-2.35	$-2.52	$-2.71
8.0%	$-1.97	$-2.07	$-2.19	$-2.32	$-2.48
9.0%	$-1.90	$-1.98	$-2.08	$-2.19	$-2.32
10.0%	$-1.84	$-1.91	$-1.99	$-2.09	$-2.20
11.0%	$-1.80	$-1.86	$-1.93	$-2.01	$-2.11

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.17

Book Value / share($)Yahoo: $0.41

Results

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

Graham Number—

Current Price$1.07

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 3.65%

Terminal growth rate(%)

Computed WACC: 3.65%

Cost of equity (Re)3.58%(Rf 4.30% + β -0.13 × ERP 5.50%)

Cost of debt (Rd)4.67%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)42.20%

Debt weight (D/V)57.80%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$1.07

Implied Near-term FCF Growth—

Historical Revenue Growth-1.1%

Historical Earnings Growth—

Base FCF (TTM)-$321,134

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: $0.02

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$0.41

Current Price$1.07

Upside / Downside-61.5%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $60,273

Target EV/EBITDA multipleCurrent: 320.0×

Net Debt($B)Default: $13.48M

Results

Implied Equity Value / share$0.63

Current Price$1.07

Upside / Downside-41.0%

Implied EV$19.29M

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

Mult \ Net Debt	-$1.99B	-$986.52M	$13.48M	$1.01B	$2.01B
316.0x	$217.88	$109.24	$0.61	$-108.03	$-216.67
318.0x	$217.90	$109.26	$0.62	$-108.02	$-216.66
320.0x	$217.91	$109.27	$0.63	$-108.01	$-216.65
322.0x	$217.92	$109.28	$0.64	$-107.99	$-216.63
324.0x	$217.93	$109.30	$0.66	$-107.98	$-216.62

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