MKTW — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($14.44)
DCF	$160.38	+1010.7%
Graham Number	—	—
Reverse DCF	—	implied g: -20.0%
DDM	$16.48	+14.1%
EV/EBITDA	$-73.30	-607.6%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $19.71M

Near-term growth (yrs 1–5)(%)Rev: -16.4% / EPS: -33.3%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.03%

Computed WACC: 6.03%

Cost of equity (Re)7.08%(Rf 4.30% + β 0.51 × 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)85.13%

Debt weight (D/V)14.87%

Results

Intrinsic Value / share$281.46

Current Price$14.44

Upside / Downside+1849.1%

Net Debt (used)-$44.40M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$161.60	$190.60	$224.33	$263.36	$308.33
8.0%	$136.09	$159.43	$186.54	$217.87	$253.91
9.0%	$118.42	$137.85	$160.38	$186.40	$216.29
10.0%	$105.44	$122.02	$141.21	$163.34	$188.74
11.0%	$95.50	$109.91	$126.56	$145.73	$167.72

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.62

Book Value / share($)Yahoo: $-5.92

Results

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

Graham Number—

Current Price$14.44

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.03%

Terminal growth rate(%)

Computed WACC: 6.03%

Cost of equity (Re)7.08%(Rf 4.30% + β 0.51 × 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)85.13%

Debt weight (D/V)14.87%

Results

Current Price$14.44

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth-16.4%

Historical Earnings Growth-33.3%

Base FCF (TTM)$19.71M

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: $0.80

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$16.48

Current Price$14.44

Upside / Downside+14.1%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $78.55M

Target EV/EBITDA multipleCurrent: -2.8×

Net Debt($B)Default: -$44.40M

Results

Implied Equity Value / share$-73.30

Current Price$14.44

Upside / Downside-607.6%

Implied EV-$222.83M

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

Mult \ Net Debt	-$2.04B	-$1.04B	-$44.40M	$955.60M	$1.96B
-6.8x	$619.20	$208.42	$-202.36	$-613.13	$-1023.91
-4.8x	$683.73	$272.95	$-137.83	$-548.60	$-959.38
-2.8x	$748.26	$337.48	$-73.30	$-484.08	$-894.85
-0.8x	$812.79	$402.01	$-8.77	$-419.55	$-830.32
1.2x	$877.32	$466.54	$55.76	$-355.02	$-765.79

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