MTSI — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($254.26)
DCF	$45.31	-82.2%
Graham Number	$29.95	-88.2%
Reverse DCF	—	implied g: 58.7%
DDM	—	—
EV/EBITDA	$248.12	-2.4%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $59.67M

Near-term growth (yrs 1–5)(%)Rev: 24.5% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 11.81%

Computed WACC: 11.81%

Cost of equity (Re)12.16%(Rf 4.30% + β 1.43 × 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)97.07%

Debt weight (D/V)2.93%

Results

Intrinsic Value / share$30.36

Current Price$254.26

Upside / Downside-88.1%

Net Debt (used)-$193.60M

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

WACC \ Near-term	16.5%	20.5%	24.5%	28.5%	32.5%
7.0%	$50.11	$58.49	$68.03	$78.86	$91.09
8.0%	$40.46	$47.08	$54.60	$63.13	$72.77
9.0%	$33.84	$39.24	$45.39	$52.35	$60.21
10.0%	$29.03	$33.55	$38.69	$44.52	$51.09
11.0%	$25.39	$29.24	$33.63	$38.59	$44.19

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.21

Book Value / share($)Yahoo: $18.04

Results

Graham Number$29.95

Current Price$254.26

Margin of Safety-88.2%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 11.81%

Terminal growth rate(%)

Computed WACC: 11.81%

Cost of equity (Re)12.16%(Rf 4.30% + β 1.43 × 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)97.07%

Debt weight (D/V)2.93%

Results

Current Price$254.26

Implied Near-term FCF Growth69.4%

Historical Revenue Growth24.5%

Historical Earnings Growth—

Base FCF (TTM)$59.67M

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$254.26

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $218.20M

Target EV/EBITDA multipleCurrent: 84.4×

Net Debt($B)Default: -$193.60M

Results

Implied Equity Value / share$248.12

Current Price$254.26

Upside / Downside-2.4%

Implied EV$18.42B

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

Mult \ Net Debt	-$2.19B	-$1.19B	-$193.60M	$806.40M	$1.81B
80.4x	$263.15	$249.81	$236.48	$223.15	$209.82
82.4x	$268.96	$255.63	$242.30	$228.97	$215.64
84.4x	$274.78	$261.45	$248.12	$234.79	$221.46
86.4x	$280.60	$267.27	$253.94	$240.61	$227.27
88.4x	$286.42	$273.09	$259.75	$246.42	$233.09

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