MIRM — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($90.09)
DCF	$337.87	+275.0%
Graham Number	—	—
Reverse DCF	—	implied g: 24.6%
DDM	—	—
EV/EBITDA	$90.78	+0.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $98.56M

Near-term growth (yrs 1–5)(%)Rev: 49.8% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.74%

Computed WACC: 6.74%

Cost of equity (Re)7.14%(Rf 4.30% + β 0.52 × 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)94.41%

Debt weight (D/V)5.59%

Results

Intrinsic Value / share$575.27

Current Price$90.09

Upside / Downside+538.6%

Net Debt (used)-$63.88M

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

WACC \ Near-term	41.8%	45.8%	49.8%	53.8%	57.8%
7.0%	$408.68	$468.57	$535.36	$609.61	$691.94
8.0%	$319.42	$366.01	$417.96	$475.70	$539.71
9.0%	$258.51	$296.04	$337.87	$384.35	$435.86
10.0%	$214.56	$245.55	$280.08	$318.44	$360.95
11.0%	$181.53	$207.60	$236.65	$268.92	$304.67

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.84

Book Value / share($)Yahoo: $6.06

Results

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

Graham Number—

Current Price$90.09

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.74%

Terminal growth rate(%)

Computed WACC: 6.74%

Cost of equity (Re)7.14%(Rf 4.30% + β 0.52 × 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)94.41%

Debt weight (D/V)5.59%

Results

Current Price$90.09

Implied Near-term FCF Growth16.3%

Historical Revenue Growth49.8%

Historical Earnings Growth—

Base FCF (TTM)$98.56M

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$90.09

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $2.11M

Target EV/EBITDA multipleCurrent: 2548.5×

Net Debt($B)Default: -$63.88M

Results

Implied Equity Value / share$90.78

Current Price$90.09

Upside / Downside+0.8%

Implied EV$5.37B

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

Mult \ Net Debt	-$2.06B	-$1.06B	-$63.88M	$936.12M	$1.94B
2544.5x	$124.04	$107.34	$90.64	$73.94	$57.24
2546.5x	$124.11	$107.41	$90.71	$74.01	$57.31
2548.5x	$124.18	$107.48	$90.78	$74.08	$57.38
2550.5x	$124.26	$107.56	$90.85	$74.15	$57.45
2552.5x	$124.33	$107.63	$90.93	$74.23	$57.53

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