MBCN — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($33.67)
DCF	$-17.10	-150.8%
Graham Number	$38.98	+15.8%
Reverse DCF	—	—
DDM	$17.30	-48.6%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: —

Near-term growth (yrs 1–5)(%)Rev: 12.3% / EPS: -36.5%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 10.78%

Computed WACC: 10.78%

Cost of equity (Re)6.41%(Rf 4.30% + β 0.38 × ERP 5.50%)

Cost of debt (Rd)21.77%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)59.47%

Debt weight (D/V)40.53%

Results

Intrinsic Value / share$-17.10

Current Price$33.67

Upside / Downside-150.8%

Net Debt (used)$138.94M

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

WACC \ Near-term	4.3%	8.3%	12.3%	16.3%	20.3%
7.0%	$-17.10	$-17.10	$-17.10	$-17.10	$-17.10
8.0%	$-17.10	$-17.10	$-17.10	$-17.10	$-17.10
9.0%	$-17.10	$-17.10	$-17.10	$-17.10	$-17.10
10.0%	$-17.10	$-17.10	$-17.10	$-17.10	$-17.10
11.0%	$-17.10	$-17.10	$-17.10	$-17.10	$-17.10

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.39

Book Value / share($)Yahoo: $28.26

Results

Graham Number$38.98

Current Price$33.67

Margin of Safety+15.8%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 10.78%

Terminal growth rate(%)

Computed WACC: 10.78%

Cost of equity (Re)6.41%(Rf 4.30% + β 0.38 × ERP 5.50%)

Cost of debt (Rd)21.77%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)59.47%

Debt weight (D/V)40.53%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$33.67

Implied Near-term FCF Growth—

Historical Revenue Growth12.3%

Historical Earnings Growth-36.5%

Base FCF (TTM)—

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: $0.84

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$17.30

Current Price$33.67

Upside / Downside-48.6%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: $138.94M

Results

Implied Equity Value / share$-17.10

Current Price$33.67

Upside / Downside-150.8%

Implied EV$0

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