MGNI — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($13.77)
DCF	$112416.36	+816286.1%
Graham Number	$7.62	-44.7%
Reverse DCF	—	implied g: 4.6%
DDM	—	—
EV/EBITDA	$13.63	-1.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $119.60M

Near-term growth (yrs 1–5)(%)Rev: 5.9% / EPS: 230.0%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 14.36%

Computed WACC: 14.36%

Cost of equity (Re)17.48%(Rf 4.30% + β 2.40 × ERP 5.50%)

Cost of debt (Rd)5.70%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)75.95%

Debt weight (D/V)24.05%

Results

Intrinsic Value / share$42067.79

Current Price$13.77

Upside / Downside+305403.2%

Net Debt (used)$73.00M

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

WACC \ Near-term	222.0%	226.0%	230.0%	234.0%	238.0%
7.0%	$166602.81	$177209.25	$188349.14	$200042.38	$212309.31
8.0%	$126513.01	$134566.82	$143025.69	$151904.70	$161219.32
9.0%	$99438.23	$105768.12	$112416.36	$119394.80	$126715.59
10.0%	$80118.77	$85218.56	$90574.82	$96197.10	$102095.19
11.0%	$65774.81	$69961.31	$74358.34	$78973.74	$83815.54

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.40

Book Value / share($)Yahoo: $6.45

Results

Graham Number$7.62

Current Price$13.77

Margin of Safety-44.7%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 14.36%

Terminal growth rate(%)

Computed WACC: 14.36%

Cost of equity (Re)17.48%(Rf 4.30% + β 2.40 × ERP 5.50%)

Cost of debt (Rd)5.70%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)75.95%

Debt weight (D/V)24.05%

Results

Current Price$13.77

Implied Near-term FCF Growth16.5%

Historical Revenue Growth5.9%

Historical Earnings Growth230.0%

Base FCF (TTM)$119.60M

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$13.77

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $137.74M

Target EV/EBITDA multipleCurrent: 14.7×

Net Debt($B)Default: $73.00M

Results

Implied Equity Value / share$13.63

Current Price$13.77

Upside / Downside-1.0%

Implied EV$2.03B

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

Mult \ Net Debt	-$1.93B	-$927.00M	$73.00M	$1.07B	$2.07B
10.7x	$23.71	$16.75	$9.79	$2.83	$-4.13
12.7x	$25.63	$18.67	$11.71	$4.75	$-2.21
14.7x	$27.55	$20.59	$13.63	$6.67	$-0.30
16.7x	$29.47	$22.51	$15.54	$8.58	$1.62
18.7x	$31.39	$24.42	$17.46	$10.50	$3.54

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