IMNM — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($22.21)
DCF	$-17.89	-180.6%
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: -$127.75M

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

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 15.86%

Computed WACC: 15.86%

Cost of equity (Re)15.88%(Rf 4.30% + β 2.11 × 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)99.84%

Debt weight (D/V)0.16%

Results

Intrinsic Value / share$-7.35

Current Price$22.21

Upside / Downside-133.1%

Net Debt (used)-$268.63M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-18.07	$-22.21	$-27.04	$-32.62	$-39.05
8.0%	$-14.42	$-17.76	$-21.63	$-26.11	$-31.27
9.0%	$-11.89	$-14.67	$-17.89	$-21.61	$-25.89
10.0%	$-10.04	$-12.41	$-15.15	$-18.32	$-21.95
11.0%	$-8.61	$-10.67	$-13.06	$-15.80	$-18.94

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-2.96

Book Value / share($)Yahoo: $2.88

Results

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

Graham Number—

Current Price$22.21

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 15.86%

Terminal growth rate(%)

Computed WACC: 15.86%

Cost of equity (Re)15.88%(Rf 4.30% + β 2.11 × 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)99.84%

Debt weight (D/V)0.16%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$22.21

Implied Near-term FCF Growth—

Historical Revenue Growth—

Historical Earnings Growth—

Base FCF (TTM)-$127.75M

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$22.21

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$204.56M

Target EV/EBITDA multipleCurrent: -8.5×

Net Debt($B)Default: -$268.63M

Results

Implied Equity Value / share$18.17

Current Price$22.21

Upside / Downside-18.2%

Implied EV$1.74B

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