LEGH — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($21.55)
DCF	$-14.82	-168.8%
Graham Number	$30.96	+43.7%
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$21.55	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$20.87M

Near-term growth (yrs 1–5)(%)Rev: -8.6% / EPS: -45.3%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.40%

Computed WACC: 8.40%

Cost of equity (Re)8.42%(Rf 4.30% + β 0.75 × 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)99.81%

Debt weight (D/V)0.19%

Results

Intrinsic Value / share$-16.40

Current Price$21.55

Upside / Downside-176.1%

Net Debt (used)-$12.55M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-14.96	$-18.09	$-21.73	$-25.94	$-30.80
8.0%	$-12.20	$-14.72	$-17.65	$-21.03	$-24.92
9.0%	$-10.29	$-12.39	$-14.82	$-17.63	$-20.86
10.0%	$-8.89	$-10.68	$-12.75	$-15.14	$-17.89
11.0%	$-7.82	$-9.37	$-11.17	$-13.24	$-15.62

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.95

Book Value / share($)Yahoo: $21.85

Results

Graham Number$30.96

Current Price$21.55

Margin of Safety+43.7%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.40%

Terminal growth rate(%)

Computed WACC: 8.40%

Cost of equity (Re)8.42%(Rf 4.30% + β 0.75 × 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)99.81%

Debt weight (D/V)0.19%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$21.55

Implied Near-term FCF Growth—

Historical Revenue Growth-8.6%

Historical Earnings Growth-45.3%

Base FCF (TTM)-$20.87M

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$21.55

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $55.41M

Target EV/EBITDA multipleCurrent: 9.1×

Net Debt($B)Default: -$12.55M

Results

Implied Equity Value / share$21.55

Current Price$21.55

Upside / Downside-0.0%

Implied EV$501.80M

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

Mult \ Net Debt	-$2.01B	-$1.01B	-$12.55M	$987.45M	$1.99B
5.1x	$96.06	$54.16	$12.26	$-29.63	$-71.53
7.1x	$100.70	$58.80	$16.91	$-24.99	$-66.88
9.1x	$105.34	$63.45	$21.55	$-20.35	$-62.24
11.1x	$109.98	$68.09	$26.19	$-15.70	$-57.60
13.1x	$114.63	$72.73	$30.83	$-11.06	$-52.96

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