MTX — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($69.02)
DCF	$130.39	+88.9%
Graham Number	—	—
Reverse DCF	—	implied g: -3.8%
DDM	$9.89	-85.7%
EV/EBITDA	$72.17	+4.6%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $269.30M

Near-term growth (yrs 1–5)(%)Rev: 0.3% / EPS: -28.8%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.54%

Computed WACC: 7.54%

Cost of equity (Re)11.09%(Rf 4.30% + β 1.24 × 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)67.98%

Debt weight (D/V)32.02%

Results

Intrinsic Value / share$175.03

Current Price$69.02

Upside / Downside+153.6%

Net Debt (used)$679.60M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$131.69	$162.75	$198.88	$240.70	$288.87
8.0%	$104.37	$129.36	$158.40	$191.96	$230.58
9.0%	$85.43	$106.24	$130.39	$158.25	$190.28
10.0%	$71.53	$89.28	$109.85	$133.56	$160.77
11.0%	$60.88	$76.31	$94.15	$114.69	$138.24

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.59

Book Value / share($)Yahoo: $55.21

Results

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

Graham Number—

Current Price$69.02

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.54%

Terminal growth rate(%)

Computed WACC: 7.54%

Cost of equity (Re)11.09%(Rf 4.30% + β 1.24 × 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)67.98%

Debt weight (D/V)32.02%

Results

Current Price$69.02

Implied Near-term FCF Growth-7.5%

Historical Revenue Growth0.3%

Historical Earnings Growth-28.8%

Base FCF (TTM)$269.30M

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: $0.48

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$9.89

Current Price$69.02

Upside / Downside-85.7%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $378.30M

Target EV/EBITDA multipleCurrent: 7.7×

Net Debt($B)Default: $679.60M

Results

Implied Equity Value / share$72.17

Current Price$69.02

Upside / Downside+4.6%

Implied EV$2.92B

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

Mult \ Net Debt	-$1.32B	-$320.40M	$679.60M	$1.68B	$2.68B
3.7x	$87.85	$55.64	$23.44	$-8.77	$-40.98
5.7x	$112.22	$80.01	$47.80	$15.60	$-16.61
7.7x	$136.59	$104.38	$72.17	$39.97	$7.76
9.7x	$160.96	$128.75	$96.54	$64.33	$32.13
11.7x	$185.32	$153.12	$120.91	$88.70	$56.49

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