KUST — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($1.16)
DCF	$-395.84	-34224.0%
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: -$11.88M

Near-term growth (yrs 1–5)(%)Rev: 12.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 1.88%

Computed WACC: 1.88%

Cost of equity (Re)10.06%(Rf 4.30% + β 1.05 × 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)18.69%

Debt weight (D/V)81.31%

Results

Intrinsic Value / share—

Current Price$1.16

Upside / Downside—

Net Debt (used)$3.25M

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

WACC \ Near-term	4.0%	8.0%	12.0%	16.0%	20.0%
7.0%	$-414.46	$-493.66	$-585.05	$-690.01	$-810.03
8.0%	$-336.98	$-400.19	$-473.06	$-556.67	$-652.18
9.0%	$-283.50	$-335.72	$-395.84	$-464.76	$-543.42
10.0%	$-244.42	$-288.62	$-339.46	$-397.68	$-464.07
11.0%	$-214.64	$-252.76	$-296.55	$-346.65	$-403.74

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-15.04

Book Value / share($)Yahoo: $14.93

Results

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

Graham Number—

Current Price$1.16

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 1.88%

Terminal growth rate(%)

Computed WACC: 1.88%

Cost of equity (Re)10.06%(Rf 4.30% + β 1.05 × 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)18.69%

Debt weight (D/V)81.31%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$1.16

Implied Near-term FCF Growth—

Historical Revenue Growth12.0%

Historical Earnings Growth—

Base FCF (TTM)-$11.88M

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$1.16

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$4.74M

Target EV/EBITDA multipleCurrent: -0.6×

Net Debt($B)Default: $3.25M

Results

Implied Equity Value / share$-0.43

Current Price$1.16

Upside / Downside-137.1%

Implied EV$2.90M

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