IOVA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($3.79)
DCF	$-14.37	-479.0%
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: -$162.42M

Near-term growth (yrs 1–5)(%)Rev: 17.7% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.33%

Computed WACC: 8.33%

Cost of equity (Re)8.60%(Rf 4.30% + β 0.78 × 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)96.82%

Debt weight (D/V)3.18%

Results

Intrinsic Value / share$-16.29

Current Price$3.79

Upside / Downside-529.7%

Net Debt (used)-$247.54M

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

WACC \ Near-term	9.7%	13.7%	17.7%	21.7%	25.7%
7.0%	$-15.49	$-18.48	$-21.90	$-25.81	$-30.26
8.0%	$-12.34	$-14.71	$-17.42	$-20.52	$-24.04
9.0%	$-10.16	$-12.11	$-14.34	$-16.88	$-19.77
10.0%	$-8.58	$-10.22	$-12.10	$-14.23	$-16.66
11.0%	$-7.38	$-8.78	$-10.39	$-12.22	$-14.30

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.19

Book Value / share($)Yahoo: $1.70

Results

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

Graham Number—

Current Price$3.79

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.33%

Terminal growth rate(%)

Computed WACC: 8.33%

Cost of equity (Re)8.60%(Rf 4.30% + β 0.78 × 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)96.82%

Debt weight (D/V)3.18%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$3.79

Implied Near-term FCF Growth—

Historical Revenue Growth17.7%

Historical Earnings Growth—

Base FCF (TTM)-$162.42M

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$3.79

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$362.27M

Target EV/EBITDA multipleCurrent: -3.6×

Net Debt($B)Default: -$247.54M

Results

Implied Equity Value / share$3.93

Current Price$3.79

Upside / Downside+3.8%

Implied EV$1.31B

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