MIR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($22.28)
DCF	$8.21	-63.2%
Graham Number	$4.35	-80.5%
Reverse DCF	—	implied g: 23.0%
DDM	—	—
EV/EBITDA	$22.49	+0.9%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $126.47M

Near-term growth (yrs 1–5)(%)Rev: 9.1% / EPS: 2.4%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.22%

Computed WACC: 8.22%

Cost of equity (Re)10.04%(Rf 4.30% + β 1.04 × 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)81.91%

Debt weight (D/V)18.09%

Results

Intrinsic Value / share$9.84

Current Price$22.28

Upside / Downside-55.8%

Net Debt (used)$814.50M

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

WACC \ Near-term	1.1%	5.1%	9.1%	13.1%	17.1%
7.0%	$8.55	$10.89	$13.60	$16.72	$20.29
8.0%	$6.36	$8.23	$10.40	$12.89	$15.74
9.0%	$4.84	$6.40	$8.19	$10.25	$12.61
10.0%	$3.73	$5.05	$6.57	$8.32	$10.31
11.0%	$2.89	$4.03	$5.34	$6.85	$8.57

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.11

Book Value / share($)Yahoo: $7.63

Results

Graham Number$4.35

Current Price$22.28

Margin of Safety-80.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.22%

Terminal growth rate(%)

Computed WACC: 8.22%

Cost of equity (Re)10.04%(Rf 4.30% + β 1.04 × 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)81.91%

Debt weight (D/V)18.09%

Results

Current Price$22.28

Implied Near-term FCF Growth20.4%

Historical Revenue Growth9.1%

Historical Earnings Growth2.4%

Base FCF (TTM)$126.47M

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$22.28

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $204.80M

Target EV/EBITDA multipleCurrent: 30.8×

Net Debt($B)Default: $814.50M

Results

Implied Equity Value / share$22.49

Current Price$22.28

Upside / Downside+0.9%

Implied EV$6.32B

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

Mult \ Net Debt	-$1.19B	-$185.50M	$814.50M	$1.81B	$2.81B
26.8x	$27.31	$23.23	$19.14	$15.05	$10.96
28.8x	$28.99	$24.90	$20.81	$16.73	$12.64
30.8x	$30.66	$26.57	$22.49	$18.40	$14.31
32.8x	$32.34	$28.25	$24.16	$20.07	$15.99
34.8x	$34.01	$29.92	$25.83	$21.75	$17.66

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