JRSH — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($3.19)
DCF	$-9.00	-382.7%
Graham Number	$3.97	+24.7%
Reverse DCF	—	—
DDM	$4.12	+29.4%
EV/EBITDA	$3.21	+0.9%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$3.12M

Near-term growth (yrs 1–5)(%)Rev: 18.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.90%

Computed WACC: 7.90%

Cost of equity (Re)9.79%(Rf 4.30% + β 1.00 × 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)80.65%

Debt weight (D/V)19.35%

Results

Intrinsic Value / share$-11.12

Current Price$3.19

Upside / Downside-449.2%

Net Debt (used)-$1.75M

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

WACC \ Near-term	10.0%	14.0%	18.0%	22.0%	26.0%
7.0%	$-9.72	$-11.55	$-13.64	$-16.02	$-18.74
8.0%	$-7.79	$-9.24	$-10.89	$-12.78	$-14.93
9.0%	$-6.46	$-7.64	$-9.00	$-10.55	$-12.31
10.0%	$-5.49	$-6.49	$-7.63	$-8.93	$-10.41
11.0%	$-4.75	$-5.61	$-6.59	$-7.70	$-8.97

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.14

Book Value / share($)Yahoo: $5.01

Results

Graham Number$3.97

Current Price$3.19

Margin of Safety+24.7%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.90%

Terminal growth rate(%)

Computed WACC: 7.90%

Cost of equity (Re)9.79%(Rf 4.30% + β 1.00 × 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)80.65%

Debt weight (D/V)19.35%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$3.19

Implied Near-term FCF Growth—

Historical Revenue Growth18.0%

Historical Earnings Growth—

Base FCF (TTM)-$3.12M

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: $0.20

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$4.12

Current Price$3.19

Upside / Downside+29.4%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $7.41M

Target EV/EBITDA multipleCurrent: 5.3×

Net Debt($B)Default: -$1.75M

Results

Implied Equity Value / share$3.21

Current Price$3.19

Upside / Downside+0.9%

Implied EV$39.08M

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

Mult \ Net Debt	-$2.00B	-$1.00B	-$1.75M	$998.25M	$2.00B
1.3x	$158.36	$79.62	$0.88	$-77.86	$-156.60
3.3x	$159.53	$80.79	$2.05	$-76.69	$-155.43
5.3x	$160.70	$81.96	$3.21	$-75.53	$-154.27
7.3x	$161.86	$83.12	$4.38	$-74.36	$-153.10
9.3x	$163.03	$84.29	$5.55	$-73.19	$-151.93

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