INVA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($22.41)
DCF	$178841806.26	+798044550.9%
Graham Number	$24.23	+8.1%
Reverse DCF	—	implied g: -1.7%
DDM	—	—
EV/EBITDA	$22.62	+0.9%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $122.07M

Near-term growth (yrs 1–5)(%)Rev: 24.8% / EPS: 590.4%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.35%

Computed WACC: 6.35%

Cost of equity (Re)6.59%(Rf 4.30% + β 0.42 × ERP 5.50%)

Cost of debt (Rd)6.50%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)83.49%

Debt weight (D/V)16.51%

Results

Intrinsic Value / share$373356489.99

Current Price$22.41

Upside / Downside+1666026182.9%

Net Debt (used)-$235.42M

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

WACC \ Near-term	582.4%	586.4%	590.4%	594.4%	598.4%
7.0%	$285906592.00	$294384824.58	$303063004.69	$311944648.28	$321033312.26
8.0%	$215884948.25	$222286764.35	$228839558.42	$235545985.32	$242408730.85
9.0%	$168717577.35	$173720696.03	$178841806.26	$184082982.85	$189446324.77
10.0%	$135155968.79	$139163854.42	$143266260.34	$147464848.64	$151761300.76
11.0%	$110313489.04	$113584698.07	$116933053.85	$120359912.96	$123866647.78

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.66

Book Value / share($)Yahoo: $15.71

Results

Graham Number$24.23

Current Price$22.41

Margin of Safety+8.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.35%

Terminal growth rate(%)

Computed WACC: 6.35%

Cost of equity (Re)6.59%(Rf 4.30% + β 0.42 × ERP 5.50%)

Cost of debt (Rd)6.50%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)83.49%

Debt weight (D/V)16.51%

Results

Current Price$22.41

Implied Near-term FCF Growth-9.3%

Historical Revenue Growth24.8%

Historical Earnings Growth590.4%

Base FCF (TTM)$122.07M

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$22.41

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $194.99M

Target EV/EBITDA multipleCurrent: 7.5×

Net Debt($B)Default: -$235.42M

Results

Implied Equity Value / share$22.62

Current Price$22.41

Upside / Downside+0.9%

Implied EV$1.46B

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

Mult \ Net Debt	-$2.24B	-$1.24B	-$235.42M	$764.58M	$1.76B
3.5x	$38.93	$25.56	$12.19	$-1.19	$-14.56
5.5x	$44.15	$30.78	$17.40	$4.03	$-9.35
7.5x	$49.37	$35.99	$22.62	$9.24	$-4.13
9.5x	$54.58	$41.21	$27.83	$14.46	$1.08
11.5x	$59.80	$46.42	$33.05	$19.67	$6.30

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