MSB — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($31.62)
DCF	$18.26	-42.2%
Graham Number	$6.88	-78.2%
Reverse DCF	—	implied g: 15.2%
DDM	$26.37	-16.6%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $12.33M

Near-term growth (yrs 1–5)(%)Rev: -54.1% / EPS: -96.5%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.22%

Computed WACC: 7.22%

Cost of equity (Re)7.22%(Rf 4.30% + β 0.53 × 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)100.00%

Debt weight (D/V)0.00%

Results

Intrinsic Value / share$24.56

Current Price$31.62

Upside / Downside-22.3%

Net Debt (used)-$23.19M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$18.41	$21.77	$25.68	$30.21	$35.43
8.0%	$15.44	$18.15	$21.30	$24.93	$29.12
9.0%	$13.39	$15.65	$18.26	$21.28	$24.75
10.0%	$11.89	$13.81	$16.04	$18.61	$21.55
11.0%	$10.73	$12.41	$14.34	$16.56	$19.11

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.31

Book Value / share($)Yahoo: $1.61

Results

Graham Number$6.88

Current Price$31.62

Margin of Safety-78.2%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.22%

Terminal growth rate(%)

Computed WACC: 7.22%

Cost of equity (Re)7.22%(Rf 4.30% + β 0.53 × 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)100.00%

Debt weight (D/V)0.00%

Results

Current Price$31.62

Implied Near-term FCF Growth9.4%

Historical Revenue Growth-54.1%

Historical Earnings Growth-96.5%

Base FCF (TTM)$12.33M

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: $1.28

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$26.37

Current Price$31.62

Upside / Downside-16.6%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: -$23.19M

Results

Implied Equity Value / share$1.77

Current Price$31.62

Upside / Downside-94.4%

Implied EV$0

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