MXC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($12.70)
DCF	$12.50	-1.6%
Graham Number	$12.00	-5.5%
Reverse DCF	—	implied g: 5.3%
DDM	$2.06	-83.8%
EV/EBITDA	$12.70	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $1.33M

Near-term growth (yrs 1–5)(%)Rev: -26.8% / EPS: -90.9%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.20%

Computed WACC: 6.20%

Cost of equity (Re)6.22%(Rf 4.30% + β 0.35 × 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)99.66%

Debt weight (D/V)0.34%

Results

Intrinsic Value / share$21.26

Current Price$12.70

Upside / Downside+67.4%

Net Debt (used)-$2.18M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$12.60	$14.93	$17.65	$20.79	$24.41
8.0%	$10.55	$12.43	$14.61	$17.13	$20.03
9.0%	$9.13	$10.69	$12.50	$14.60	$17.00
10.0%	$8.08	$9.42	$10.96	$12.74	$14.78
11.0%	$7.28	$8.44	$9.78	$11.32	$13.09

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.68

Book Value / share($)Yahoo: $9.41

Results

Graham Number$12.00

Current Price$12.70

Margin of Safety-5.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.20%

Terminal growth rate(%)

Computed WACC: 6.20%

Cost of equity (Re)6.22%(Rf 4.30% + β 0.35 × 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)99.66%

Debt weight (D/V)0.34%

Results

Current Price$12.70

Implied Near-term FCF Growth-3.5%

Historical Revenue Growth-26.8%

Historical Earnings Growth-90.9%

Base FCF (TTM)$1.33M

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: $0.10

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$2.06

Current Price$12.70

Upside / Downside-83.8%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $4.17M

Target EV/EBITDA multipleCurrent: 5.7×

Net Debt($B)Default: -$2.18M

Results

Implied Equity Value / share$12.70

Current Price$12.70

Upside / Downside+0.0%

Implied EV$23.81M

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

Mult \ Net Debt	-$2.00B	-$1.00B	-$2.18M	$997.82M	$2.00B
1.7x	$982.07	$493.31	$4.56	$-484.20	$-972.96
3.7x	$986.14	$497.39	$8.63	$-480.13	$-968.89
5.7x	$990.22	$501.46	$12.70	$-476.06	$-964.82
7.7x	$994.29	$505.53	$16.77	$-471.99	$-960.74
9.7x	$998.36	$509.60	$20.85	$-467.91	$-956.67

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