INOD — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($44.46)
DCF	$37.47	-15.7%
Graham Number	$8.68	-80.5%
Reverse DCF	—	implied g: 25.6%
DDM	—	—
EV/EBITDA	$45.20	+1.7%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $23.49M

Near-term growth (yrs 1–5)(%)Rev: 22.3% / EPS: -19.4%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 17.89%

Computed WACC: 17.89%

Cost of equity (Re)17.95%(Rf 4.30% + β 2.48 × 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)99.69%

Debt weight (D/V)0.31%

Results

Intrinsic Value / share$14.70

Current Price$44.46

Upside / Downside-66.9%

Net Debt (used)-$77.80M

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

WACC \ Near-term	14.3%	18.3%	22.3%	26.3%	30.3%
7.0%	$41.04	$47.95	$55.84	$64.82	$74.97
8.0%	$33.28	$38.75	$44.98	$52.07	$60.08
9.0%	$27.96	$32.43	$37.53	$43.32	$49.86
10.0%	$24.08	$27.83	$32.11	$36.96	$42.44
11.0%	$21.15	$24.35	$28.00	$32.14	$36.82

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.01

Book Value / share($)Yahoo: $3.31

Results

Graham Number$8.68

Current Price$44.46

Margin of Safety-80.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 17.89%

Terminal growth rate(%)

Computed WACC: 17.89%

Cost of equity (Re)17.95%(Rf 4.30% + β 2.48 × 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)99.69%

Debt weight (D/V)0.31%

Results

Current Price$44.46

Implied Near-term FCF Growth48.6%

Historical Revenue Growth22.3%

Historical Earnings Growth-19.4%

Base FCF (TTM)$23.49M

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$44.46

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $42.76M

Target EV/EBITDA multipleCurrent: 31.9×

Net Debt($B)Default: -$77.80M

Results

Implied Equity Value / share$45.20

Current Price$44.46

Upside / Downside+1.7%

Implied EV$1.36B

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

Mult \ Net Debt	-$2.08B	-$1.08B	-$77.80M	$922.20M	$1.92B
27.9x	$102.60	$71.21	$39.83	$8.44	$-22.95
29.9x	$105.28	$73.90	$42.51	$11.13	$-20.26
31.9x	$107.97	$76.58	$45.20	$13.81	$-17.58
33.9x	$110.65	$79.27	$47.88	$16.49	$-14.89
35.9x	$113.34	$81.95	$50.56	$19.18	$-12.21

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