MFIN — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($10.43)
DCF	$-94.33	-1004.4%
Graham Number	$26.92	+158.1%
Reverse DCF	—	—
DDM	$9.89	-5.2%
EV/EBITDA	$14.37	+37.8%

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: 17.9% / EPS: 16.4%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 0.78%

Computed WACC: 0.78%

Cost of equity (Re)8.51%(Rf 4.30% + β 0.77 × 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)9.20%

Debt weight (D/V)90.80%

Results

Intrinsic Value / share—

Current Price$10.43

Upside / Downside—

Net Debt (used)$2.20B

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

WACC \ Near-term	9.9%	13.9%	17.9%	21.9%	25.9%
7.0%	$-94.33	$-94.33	$-94.33	$-94.33	$-94.33
8.0%	$-94.33	$-94.33	$-94.33	$-94.33	$-94.33
9.0%	$-94.33	$-94.33	$-94.33	$-94.33	$-94.33
10.0%	$-94.33	$-94.33	$-94.33	$-94.33	$-94.33
11.0%	$-94.33	$-94.33	$-94.33	$-94.33	$-94.33

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.78

Book Value / share($)Yahoo: $18.09

Results

Graham Number$26.92

Current Price$10.43

Margin of Safety+158.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 0.78%

Terminal growth rate(%)

Computed WACC: 0.78%

Cost of equity (Re)8.51%(Rf 4.30% + β 0.77 × 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)9.20%

Debt weight (D/V)90.80%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$10.43

Implied Near-term FCF Growth—

Historical Revenue Growth17.9%

Historical Earnings Growth16.4%

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: $0.48

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$9.89

Current Price$10.43

Upside / Downside-5.2%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $182.27M

Target EV/EBITDA multipleCurrent: 13.9×

Net Debt($B)Default: $2.20B

Results

Implied Equity Value / share$14.37

Current Price$10.43

Upside / Downside+37.8%

Implied EV$2.53B

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

Mult \ Net Debt	$198.98M	$1.20B	$2.20B	$3.20B	$4.20B
9.9x	$68.89	$26.00	$-16.90	$-59.80	$-102.70
11.9x	$84.53	$41.63	$-1.26	$-44.16	$-87.06
13.9x	$100.17	$57.27	$14.37	$-28.52	$-71.42
15.9x	$115.80	$72.91	$30.01	$-12.89	$-55.78
17.9x	$131.44	$88.54	$45.65	$2.75	$-40.15

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