MEI — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($8.47)
DCF	$37.86	+347.0%
Graham Number	—	—
Reverse DCF	—	implied g: -13.2%
DDM	$6.39	-24.6%
EV/EBITDA	$8.47	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $90.10M

Near-term growth (yrs 1–5)(%)Rev: -15.6% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 4.57%

Computed WACC: 4.57%

Cost of equity (Re)10.05%(Rf 4.30% + β 1.05 × 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)45.46%

Debt weight (D/V)54.54%

Results

Intrinsic Value / share$134.68

Current Price$8.47

Upside / Downside+1490.1%

Net Debt (used)$241.30M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$38.24	$47.35	$57.95	$70.22	$84.35
8.0%	$30.23	$37.56	$46.08	$55.92	$67.25
9.0%	$24.67	$30.78	$37.86	$46.03	$55.43
10.0%	$20.59	$25.80	$31.83	$38.79	$46.77
11.0%	$17.47	$21.99	$27.23	$33.26	$40.16

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.78

Book Value / share($)Yahoo: $19.19

Results

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

Graham Number—

Current Price$8.47

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 4.57%

Terminal growth rate(%)

Computed WACC: 4.57%

Cost of equity (Re)10.05%(Rf 4.30% + β 1.05 × 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)45.46%

Debt weight (D/V)54.54%

Results

Current Price$8.47

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth-15.6%

Historical Earnings Growth—

Base FCF (TTM)$90.10M

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: $0.31

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$6.39

Current Price$8.47

Upside / Downside-24.6%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $42.20M

Target EV/EBITDA multipleCurrent: 12.8×

Net Debt($B)Default: $241.30M

Results

Implied Equity Value / share$8.47

Current Price$8.47

Upside / Downside+0.0%

Implied EV$541.22M

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

Mult \ Net Debt	-$1.76B	-$758.70M	$241.30M	$1.24B	$2.24B
8.8x	$60.19	$31.94	$3.70	$-24.54	$-52.78
10.8x	$62.57	$34.33	$6.09	$-22.16	$-50.40
12.8x	$64.95	$36.71	$8.47	$-19.77	$-48.01
14.8x	$67.34	$39.10	$10.85	$-17.39	$-45.63
16.8x	$69.72	$41.48	$13.24	$-15.00	$-43.25

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