IRMD — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($103.74)
DCF	$4.02	-96.1%
Graham Number	$17.10	-83.5%
Reverse DCF	—	—
DDM	$16.48	-84.1%
EV/EBITDA	$103.88	+0.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: —

Near-term growth (yrs 1–5)(%)Rev: 17.0% / EPS: 24.7%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 10.37%

Computed WACC: 10.37%

Cost of equity (Re)10.37%(Rf 4.30% + β 1.10 × 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)100.00%

Debt weight (D/V)0.00%

Results

Intrinsic Value / share$4.02

Current Price$103.74

Upside / Downside-96.1%

Net Debt (used)-$51.16M

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

WACC \ Near-term	16.7%	20.7%	24.7%	28.7%	32.7%
7.0%	$4.02	$4.02	$4.02	$4.02	$4.02
8.0%	$4.02	$4.02	$4.02	$4.02	$4.02
9.0%	$4.02	$4.02	$4.02	$4.02	$4.02
10.0%	$4.02	$4.02	$4.02	$4.02	$4.02
11.0%	$4.02	$4.02	$4.02	$4.02	$4.02

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.75

Book Value / share($)Yahoo: $7.43

Results

Graham Number$17.10

Current Price$103.74

Margin of Safety-83.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 10.37%

Terminal growth rate(%)

Computed WACC: 10.37%

Cost of equity (Re)10.37%(Rf 4.30% + β 1.10 × 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)100.00%

Debt weight (D/V)0.00%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$103.74

Implied Near-term FCF Growth—

Historical Revenue Growth17.0%

Historical Earnings Growth24.7%

Base FCF (TTM)—

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: $0.80

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$16.48

Current Price$103.74

Upside / Downside-84.1%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $27.19M

Target EV/EBITDA multipleCurrent: 46.7×

Net Debt($B)Default: -$51.16M

Results

Implied Equity Value / share$103.88

Current Price$103.74

Upside / Downside+0.1%

Implied EV$1.27B

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

Mult \ Net Debt	-$2.05B	-$1.05B	-$51.16M	$948.84M	$1.95B
42.7x	$252.55	$173.94	$95.33	$16.72	$-61.89
44.7x	$256.82	$178.21	$99.60	$20.99	$-57.62
46.7x	$261.10	$182.49	$103.88	$25.27	$-53.34
48.7x	$265.37	$186.76	$108.15	$29.54	$-49.06
50.7x	$269.65	$191.04	$112.43	$33.82	$-44.79

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