IPI — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($36.09)
DCF	$48.52	+34.5%
Graham Number	—	—
Reverse DCF	—	implied g: -0.8%
DDM	—	—
EV/EBITDA	$35.25	-2.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $32.92M

Near-term growth (yrs 1–5)(%)Rev: -5.2% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 12.79%

Computed WACC: 12.79%

Cost of equity (Re)12.87%(Rf 4.30% + β 1.56 × ERP 5.50%)

Cost of debt (Rd)3.02%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)99.24%

Debt weight (D/V)0.76%

Results

Intrinsic Value / share$32.49

Current Price$36.09

Upside / Downside-10.0%

Net Debt (used)-$73.50M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$48.89	$57.67	$67.89	$79.71	$93.33
8.0%	$41.17	$48.24	$56.45	$65.93	$76.85
9.0%	$35.81	$41.70	$48.52	$56.40	$65.46
10.0%	$31.88	$36.90	$42.72	$49.42	$57.11
11.0%	$28.87	$33.24	$38.28	$44.09	$50.75

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-15.20

Book Value / share($)Yahoo: $37.41

Results

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

Graham Number—

Current Price$36.09

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 12.79%

Terminal growth rate(%)

Computed WACC: 12.79%

Cost of equity (Re)12.87%(Rf 4.30% + β 1.56 × ERP 5.50%)

Cost of debt (Rd)3.02%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)99.24%

Debt weight (D/V)0.76%

Results

Current Price$36.09

Implied Near-term FCF Growth7.4%

Historical Revenue Growth-5.2%

Historical Earnings Growth—

Base FCF (TTM)$32.92M

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$36.09

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $52.32M

Target EV/EBITDA multipleCurrent: 7.6×

Net Debt($B)Default: -$73.50M

Results

Implied Equity Value / share$35.25

Current Price$36.09

Upside / Downside-2.3%

Implied EV$399.85M

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

Mult \ Net Debt	-$2.07B	-$1.07B	-$73.50M	$926.50M	$1.93B
3.6x	$168.62	$94.15	$19.67	$-54.81	$-129.29
5.6x	$176.42	$101.94	$27.46	$-47.02	$-121.49
7.6x	$184.21	$109.73	$35.25	$-39.22	$-113.70
9.6x	$192.00	$117.52	$43.05	$-31.43	$-105.91
11.6x	$199.79	$125.32	$50.84	$-23.64	$-98.12

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