INDV — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($31.98)
DCF	$6327059.15	+19784325.1%
Graham Number	—	—
Reverse DCF	—	implied g: 6.1%
DDM	—	—
EV/EBITDA	$31.99	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $221.75M

Near-term growth (yrs 1–5)(%)Rev: 19.7% / EPS: 376.2%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 10.78%

Computed WACC: 10.78%

Cost of equity (Re)10.85%(Rf 4.30% + β 1.19 × ERP 5.50%)

Cost of debt (Rd)12.56%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)91.93%

Debt weight (D/V)8.07%

Results

Intrinsic Value / share$4335961.91

Current Price$31.98

Upside / Downside+13558254.9%

Net Debt (used)$156.00M

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

WACC \ Near-term	368.2%	372.2%	376.2%	380.2%	384.2%
7.0%	$9810651.13	$10236943.29	$10677926.96	$11133978.64	$11605481.23
8.0%	$7423043.52	$7745587.41	$8079247.22	$8424307.83	$8781058.94
9.0%	$5813172.95	$6065763.52	$6327059.15	$6597282.91	$6876661.68
10.0%	$4666473.14	$4869236.50	$5078987.68	$5295905.75	$5520172.81
11.0%	$3816719.17	$3982558.49	$4154113.08	$4331529.40	$4514956.39

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.98

Book Value / share($)Yahoo: $-0.78

Results

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

Graham Number—

Current Price$31.98

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 10.78%

Terminal growth rate(%)

Computed WACC: 10.78%

Cost of equity (Re)10.85%(Rf 4.30% + β 1.19 × ERP 5.50%)

Cost of debt (Rd)12.56%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)91.93%

Debt weight (D/V)8.07%

Results

Current Price$31.98

Implied Near-term FCF Growth10.6%

Historical Revenue Growth19.7%

Historical Earnings Growth376.2%

Base FCF (TTM)$221.75M

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$31.98

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $397.00M

Target EV/EBITDA multipleCurrent: 10.5×

Net Debt($B)Default: $156.00M

Results

Implied Equity Value / share$31.99

Current Price$31.98

Upside / Downside+0.0%

Implied EV$4.16B

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

Mult \ Net Debt	-$1.84B	-$844.00M	$156.00M	$1.16B	$2.16B
6.5x	$35.28	$27.29	$19.29	$11.29	$3.29
8.5x	$41.64	$33.64	$25.64	$17.64	$9.64
10.5x	$47.99	$39.99	$31.99	$23.99	$15.99
12.5x	$54.34	$46.34	$38.34	$30.34	$22.34
14.5x	$60.69	$52.69	$44.69	$36.69	$28.69

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