KVHI — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($6.36)
DCF	$27.05	+325.2%
Graham Number	—	—
Reverse DCF	—	implied g: -20.0%
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: $26.27M

Near-term growth (yrs 1–5)(%)Rev: -1.8% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.10%

Computed WACC: 8.10%

Cost of equity (Re)8.40%(Rf 4.30% + β 0.74 × 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)96.43%

Debt weight (D/V)3.57%

Results

Intrinsic Value / share$30.88

Current Price$6.36

Upside / Downside+385.5%

Net Debt (used)-$68.20M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$27.25	$32.05	$37.64	$44.11	$51.57
8.0%	$23.02	$26.89	$31.38	$36.57	$42.55
9.0%	$20.09	$23.31	$27.05	$31.36	$36.31
10.0%	$17.94	$20.69	$23.87	$27.54	$31.75
11.0%	$16.29	$18.68	$21.44	$24.62	$28.26

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.62

Book Value / share($)Yahoo: $6.70

Results

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

Graham Number—

Current Price$6.36

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.10%

Terminal growth rate(%)

Computed WACC: 8.10%

Cost of equity (Re)8.40%(Rf 4.30% + β 0.74 × 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)96.43%

Debt weight (D/V)3.57%

Results

Current Price$6.36

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth-1.8%

Historical Earnings Growth—

Base FCF (TTM)$26.27M

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$6.36

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$375,000

Target EV/EBITDA multipleCurrent: -140.2×

Net Debt($B)Default: -$68.20M

Results

Implied Equity Value / share$6.17

Current Price$6.36

Upside / Downside-3.0%

Implied EV$52.57M

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