KFS — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($12.35)
DCF	$24.25	+96.4%
Graham Number	—	—
Reverse DCF	—	implied g: 21.2%
DDM	—	—
EV/EBITDA	$13.06	+5.7%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $9.46M

Near-term growth (yrs 1–5)(%)Rev: 31.9% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.75%

Computed WACC: 5.75%

Cost of equity (Re)5.38%(Rf 4.30% + β 0.20 × ERP 5.50%)

Cost of debt (Rd)9.40%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)81.93%

Debt weight (D/V)18.07%

Results

Intrinsic Value / share$57.60

Current Price$12.35

Upside / Downside+366.4%

Net Debt (used)$68.45M

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

WACC \ Near-term	23.9%	27.9%	31.9%	35.9%	39.9%
7.0%	$28.11	$33.21	$38.97	$45.46	$52.75
8.0%	$21.74	$25.74	$30.26	$35.35	$41.07
9.0%	$17.37	$20.62	$24.30	$28.43	$33.07
10.0%	$14.21	$16.92	$19.98	$23.42	$27.28
11.0%	$11.82	$14.12	$16.71	$19.63	$22.91

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.43

Book Value / share($)Yahoo: $0.58

Results

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

Graham Number—

Current Price$12.35

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.75%

Terminal growth rate(%)

Computed WACC: 5.75%

Cost of equity (Re)5.38%(Rf 4.30% + β 0.20 × ERP 5.50%)

Cost of debt (Rd)9.40%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)81.93%

Debt weight (D/V)18.07%

Results

Current Price$12.35

Implied Near-term FCF Growth8.6%

Historical Revenue Growth31.9%

Historical Earnings Growth—

Base FCF (TTM)$9.46M

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$12.35

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $4.56M

Target EV/EBITDA multipleCurrent: 96.9×

Net Debt($B)Default: $68.45M

Results

Implied Equity Value / share$13.06

Current Price$12.35

Upside / Downside+5.7%

Implied EV$442.04M

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

Mult \ Net Debt	-$1.93B	-$931.55M	$68.45M	$1.07B	$2.07B
92.9x	$82.32	$47.37	$12.42	$-22.53	$-57.48
94.9x	$82.64	$47.69	$12.74	$-22.21	$-57.16
96.9x	$82.96	$48.01	$13.06	$-21.89	$-56.84
98.9x	$83.27	$48.33	$13.38	$-21.57	$-56.52
100.9x	$83.59	$48.64	$13.69	$-21.25	$-56.20

← Overview Financial Statements ← Companies