MATW — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($26.61)
DCF	$35.11	+32.0%
Graham Number	$16.70	-37.3%
Reverse DCF	—	implied g: 2.0%
DDM	$21.01	-21.0%
EV/EBITDA	$26.43	-0.7%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $94.00M

Near-term growth (yrs 1–5)(%)Rev: -29.1% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.27%

Computed WACC: 6.27%

Cost of equity (Re)10.72%(Rf 4.30% + β 1.17 × 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)58.46%

Debt weight (D/V)41.54%

Results

Intrinsic Value / share$73.98

Current Price$26.61

Upside / Downside+178.0%

Net Debt (used)$557.29M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$35.57	$46.38	$58.96	$73.52	$90.29
8.0%	$26.05	$34.76	$44.87	$56.55	$70.00
9.0%	$19.46	$26.71	$35.11	$44.82	$55.96
10.0%	$14.62	$20.80	$27.96	$36.22	$45.69
11.0%	$10.91	$16.29	$22.50	$29.65	$37.85

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.71

Book Value / share($)Yahoo: $17.45

Results

Graham Number$16.70

Current Price$26.61

Margin of Safety-37.3%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.27%

Terminal growth rate(%)

Computed WACC: 6.27%

Cost of equity (Re)10.72%(Rf 4.30% + β 1.17 × 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)58.46%

Debt weight (D/V)41.54%

Results

Current Price$26.61

Implied Near-term FCF Growth-6.2%

Historical Revenue Growth-29.1%

Historical Earnings Growth—

Base FCF (TTM)$94.00M

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: $1.02

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$21.01

Current Price$26.61

Upside / Downside-21.0%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $83.88M

Target EV/EBITDA multipleCurrent: 16.5×

Net Debt($B)Default: $557.29M

Results

Implied Equity Value / share$26.43

Current Price$26.61

Upside / Downside-0.7%

Implied EV$1.38B

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

Mult \ Net Debt	-$1.44B	-$442.71M	$557.29M	$1.56B	$2.56B
12.5x	$79.91	$47.78	$15.65	$-16.48	$-48.60
14.5x	$85.30	$53.17	$21.04	$-11.09	$-43.21
16.5x	$90.69	$58.56	$26.43	$-5.70	$-37.82
18.5x	$96.08	$63.95	$31.82	$-0.31	$-32.43
20.5x	$101.46	$69.34	$37.21	$5.08	$-27.04

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