MEG — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($28.82)
DCF	$31.65	+9.8%
Graham Number	—	—
Reverse DCF	—	implied g: 3.8%
DDM	—	—
EV/EBITDA	$29.75	+3.2%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $83.48M

Near-term growth (yrs 1–5)(%)Rev: 2.2% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 11.02%

Computed WACC: 11.02%

Cost of equity (Re)14.91%(Rf 4.30% + β 1.93 × 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)73.91%

Debt weight (D/V)26.09%

Results

Intrinsic Value / share$21.70

Current Price$28.82

Upside / Downside-24.7%

Net Debt (used)$347.27M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$32.00	$40.46	$50.30	$61.69	$74.81
8.0%	$24.56	$31.37	$39.28	$48.42	$58.94
9.0%	$19.40	$25.07	$31.65	$39.24	$47.96
10.0%	$15.62	$20.45	$26.05	$32.51	$39.92
11.0%	$12.72	$16.92	$21.78	$27.37	$33.79

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.84

Book Value / share($)Yahoo: $12.56

Results

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

Graham Number—

Current Price$28.82

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 11.02%

Terminal growth rate(%)

Computed WACC: 11.02%

Cost of equity (Re)14.91%(Rf 4.30% + β 1.93 × 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)73.91%

Debt weight (D/V)26.09%

Results

Current Price$28.82

Implied Near-term FCF Growth8.7%

Historical Revenue Growth2.2%

Historical Earnings Growth—

Base FCF (TTM)$83.48M

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$28.82

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $65.36M

Target EV/EBITDA multipleCurrent: 21.4×

Net Debt($B)Default: $347.27M

Results

Implied Equity Value / share$29.75

Current Price$28.82

Upside / Downside+3.2%

Implied EV$1.40B

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

Mult \ Net Debt	-$1.65B	-$652.73M	$347.27M	$1.35B	$2.35B
17.4x	$78.95	$50.65	$22.35	$-5.95	$-34.24
19.4x	$82.65	$54.35	$26.05	$-2.25	$-30.54
21.4x	$86.35	$58.05	$29.75	$1.45	$-26.85
23.4x	$90.05	$61.75	$33.45	$5.15	$-23.15
25.4x	$93.75	$65.45	$37.15	$8.85	$-19.45

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