IQST — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($2.10)
DCF	$-674.82	-32234.4%
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: -$2.47M

Near-term growth (yrs 1–5)(%)Rev: 89.6% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.63%

Computed WACC: 9.63%

Cost of equity (Re)13.71%(Rf 4.30% + β 1.71 × 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)70.23%

Debt weight (D/V)29.77%

Results

Intrinsic Value / share$-592.72

Current Price$2.10

Upside / Downside-28324.9%

Net Debt (used)$1.89M

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

WACC \ Near-term	81.6%	85.6%	89.6%	93.6%	97.6%
7.0%	$-887.50	$-989.18	$-1099.99	$-1220.53	$-1351.43
8.0%	$-683.36	$-761.55	$-846.76	$-939.45	$-1040.10
9.0%	$-544.74	$-606.99	$-674.82	$-748.60	$-828.71
10.0%	$-445.24	$-496.05	$-551.41	$-611.62	$-676.99
11.0%	$-370.89	$-413.14	$-459.18	$-509.26	$-563.62

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-3.44

Book Value / share($)Yahoo: $3.38

Results

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

Graham Number—

Current Price$2.10

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.63%

Terminal growth rate(%)

Computed WACC: 9.63%

Cost of equity (Re)13.71%(Rf 4.30% + β 1.71 × 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)70.23%

Debt weight (D/V)29.77%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$2.10

Implied Near-term FCF Growth—

Historical Revenue Growth89.6%

Historical Earnings Growth—

Base FCF (TTM)-$2.47M

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$2.10

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$1.15M

Target EV/EBITDA multipleCurrent: -13.7×

Net Debt($B)Default: $1.89M

Results

Implied Equity Value / share$2.97

Current Price$2.10

Upside / Downside+41.5%

Implied EV$15.75M

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