MRCC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($5.86)
DCF	$-2.48	-142.3%
Graham Number	—	—
Reverse DCF	—	implied g: 18.4%
DDM	$19.16	+226.9%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $8.77M

Near-term growth (yrs 1–5)(%)Rev: -47.7% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.85%

Computed WACC: 6.85%

Cost of equity (Re)8.53%(Rf 4.30% + β 0.77 × ERP 5.50%)

Cost of debt (Rd)7.39%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)37.55%

Debt weight (D/V)62.45%

Results

Intrinsic Value / share$1.07

Current Price$5.86

Upside / Downside-81.7%

Net Debt (used)$207.67M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-2.42	$-0.97	$0.72	$2.67	$4.92
8.0%	$-3.69	$-2.53	$-1.17	$0.39	$2.20
9.0%	$-4.58	$-3.61	$-2.48	$-1.18	$0.31
10.0%	$-5.23	$-4.40	$-3.44	$-2.33	$-1.06
11.0%	$-5.72	$-5.00	$-4.17	$-3.21	$-2.11

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.19

Book Value / share($)Yahoo: $7.99

Results

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

Graham Number—

Current Price$5.86

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.85%

Terminal growth rate(%)

Computed WACC: 6.85%

Cost of equity (Re)8.53%(Rf 4.30% + β 0.77 × ERP 5.50%)

Cost of debt (Rd)7.39%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)37.55%

Debt weight (D/V)62.45%

Results

Current Price$5.86

Implied Near-term FCF Growth11.0%

Historical Revenue Growth-47.7%

Historical Earnings Growth—

Base FCF (TTM)$8.77M

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: $0.93

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$19.16

Current Price$5.86

Upside / Downside+226.9%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: $207.67M

Results

Implied Equity Value / share$-9.59

Current Price$5.86

Upside / Downside-263.6%

Implied EV$0

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