MFIC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($9.68)
DCF	$7.65	-21.0%
Graham Number	$18.61	+92.3%
Reverse DCF	—	implied g: 6.2%
DDM	$25.54	+163.9%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $145.96M

Near-term growth (yrs 1–5)(%)Rev: 0.5% / EPS: -3.9%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 2.78%

Computed WACC: 2.78%

Cost of equity (Re)8.67%(Rf 4.30% + β 0.79 × 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)32.05%

Debt weight (D/V)67.95%

Results

Intrinsic Value / share$625.78

Current Price$9.68

Upside / Downside+6364.6%

Net Debt (used)$1.85B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$7.89	$13.49	$20.01	$27.55	$36.24
8.0%	$2.96	$7.47	$12.70	$18.76	$25.72
9.0%	$-0.46	$3.30	$7.65	$12.68	$18.45
10.0%	$-2.96	$0.24	$3.95	$8.22	$13.13
11.0%	$-4.88	$-2.10	$1.12	$4.82	$9.07

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.05

Book Value / share($)Yahoo: $14.66

Results

Graham Number$18.61

Current Price$9.68

Margin of Safety+92.3%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 2.78%

Terminal growth rate(%)

Computed WACC: 2.78%

Cost of equity (Re)8.67%(Rf 4.30% + β 0.79 × 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)32.05%

Debt weight (D/V)67.95%

Results

Current Price$9.68

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth0.5%

Historical Earnings Growth-3.9%

Base FCF (TTM)$145.96M

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: $1.24

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$25.54

Current Price$9.68

Upside / Downside+163.9%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: $1.85B

Results

Implied Equity Value / share$-19.81

Current Price$9.68

Upside / Downside-304.7%

Implied EV$0

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