LEE — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($9.40)
DCF	$-4.18	-144.5%
Graham Number	—	—
Reverse DCF	—	implied g: 15.2%
DDM	—	—
EV/EBITDA	$9.50	+1.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $21.32M

Near-term growth (yrs 1–5)(%)Rev: -10.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 2.12%

Computed WACC: 2.12%

Cost of equity (Re)6.97%(Rf 4.30% + β 0.49 × 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)30.35%

Debt weight (D/V)69.65%

Results

Intrinsic Value / share—

Current Price$9.40

Upside / Downside—

Net Debt (used)$467.21M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-4.04	$-0.60	$3.39	$8.01	$13.33
8.0%	$-7.06	$-4.29	$-1.08	$2.63	$6.89
9.0%	$-9.15	$-6.85	$-4.18	$-1.10	$2.44
10.0%	$-10.68	$-8.72	$-6.45	$-3.83	$-0.82
11.0%	$-11.86	$-10.16	$-8.18	$-5.91	$-3.31

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-4.32

Book Value / share($)Yahoo: $-7.81

Results

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

Graham Number—

Current Price$9.40

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 2.12%

Terminal growth rate(%)

Computed WACC: 2.12%

Cost of equity (Re)6.97%(Rf 4.30% + β 0.49 × 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)30.35%

Debt weight (D/V)69.65%

Results

Current Price$9.40

Implied Near-term FCF Growth65.0%

Historical Revenue Growth-10.0%

Historical Earnings Growth—

Base FCF (TTM)$21.32M

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$9.40

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $47.77M

Target EV/EBITDA multipleCurrent: 14.2×

Net Debt($B)Default: $467.21M

Results

Implied Equity Value / share$9.50

Current Price$9.40

Upside / Downside+1.1%

Implied EV$678.54M

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

Mult \ Net Debt	-$1.53B	-$532.79M	$467.21M	$1.47B	$2.47B
10.2x	$90.84	$45.88	$0.91	$-44.05	$-89.02
12.2x	$95.14	$50.17	$5.21	$-39.76	$-84.72
14.2x	$99.43	$54.47	$9.50	$-35.46	$-80.43
16.2x	$103.73	$58.76	$13.80	$-31.17	$-76.13
18.2x	$108.02	$63.06	$18.09	$-26.87	$-71.84

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