IIIV — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($22.45)
DCF	$-22.75	-201.3%
Graham Number	$5.34	-76.2%
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$28.10	+25.2%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$30.51M

Near-term growth (yrs 1–5)(%)Rev: 0.9% / EPS: -83.4%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.59%

Computed WACC: 9.59%

Cost of equity (Re)9.66%(Rf 4.30% + β 0.97 × 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)99.34%

Debt weight (D/V)0.66%

Results

Intrinsic Value / share$-20.71

Current Price$22.45

Upside / Downside-192.3%

Net Debt (used)-$32.93M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-22.96	$-27.91	$-33.66	$-40.32	$-47.98
8.0%	$-18.61	$-22.59	$-27.21	$-32.56	$-38.70
9.0%	$-15.60	$-18.91	$-22.75	$-27.19	$-32.29
10.0%	$-13.38	$-16.21	$-19.48	$-23.26	$-27.59
11.0%	$-11.69	$-14.14	$-16.98	$-20.25	$-24.00

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.08

Book Value / share($)Yahoo: $15.86

Results

Graham Number$5.34

Current Price$22.45

Margin of Safety-76.2%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.59%

Terminal growth rate(%)

Computed WACC: 9.59%

Cost of equity (Re)9.66%(Rf 4.30% + β 0.97 × 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)99.34%

Debt weight (D/V)0.66%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$22.45

Implied Near-term FCF Growth—

Historical Revenue Growth0.9%

Historical Earnings Growth-83.4%

Base FCF (TTM)-$30.51M

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$22.45

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $14.72M

Target EV/EBITDA multipleCurrent: 39.9×

Net Debt($B)Default: -$32.93M

Results

Implied Equity Value / share$28.10

Current Price$22.45

Upside / Downside+25.2%

Implied EV$587.92M

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

Mult \ Net Debt	-$2.03B	-$1.03B	-$32.93M	$967.07M	$1.97B
35.9x	$115.96	$70.70	$25.43	$-19.83	$-65.09
37.9x	$117.29	$72.03	$26.77	$-18.49	$-63.75
39.9x	$118.62	$73.36	$28.10	$-17.16	$-62.42
41.9x	$119.95	$74.69	$29.43	$-15.83	$-61.09
43.9x	$121.29	$76.03	$30.76	$-14.50	$-59.76

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