OXM — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($38.69)
DCF	$-23.01	-159.5%
Graham Number	—	—
Reverse DCF	—	implied g: 34.4%
DDM	$56.86	+47.0%
EV/EBITDA	$38.69	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $12.30M

Near-term growth (yrs 1–5)(%)Rev: -0.2% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.11%

Computed WACC: 5.11%

Cost of equity (Re)10.15%(Rf 4.30% + β 1.06 × 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)50.41%

Debt weight (D/V)49.59%

Results

Intrinsic Value / share$-1.12

Current Price$38.69

Upside / Downside-102.9%

Net Debt (used)$558.23M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-22.89	$-19.93	$-16.49	$-12.50	$-7.91
8.0%	$-25.49	$-23.11	$-20.34	$-17.15	$-13.47
9.0%	$-27.30	$-25.31	$-23.01	$-20.36	$-17.31
10.0%	$-28.62	$-26.93	$-24.97	$-22.71	$-20.12
11.0%	$-29.64	$-28.17	$-26.47	$-24.51	$-22.26

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.26

Book Value / share($)Yahoo: $35.49

Results

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

Graham Number—

Current Price$38.69

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.11%

Terminal growth rate(%)

Computed WACC: 5.11%

Cost of equity (Re)10.15%(Rf 4.30% + β 1.06 × 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)50.41%

Debt weight (D/V)49.59%

Results

Current Price$38.69

Implied Near-term FCF Growth16.5%

Historical Revenue Growth-0.2%

Historical Earnings Growth—

Base FCF (TTM)$12.30M

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: $2.76

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$56.86

Current Price$38.69

Upside / Downside+47.0%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $128.52M

Target EV/EBITDA multipleCurrent: 8.8×

Net Debt($B)Default: $558.23M

Results

Implied Equity Value / share$38.69

Current Price$38.69

Upside / Downside-0.0%

Implied EV$1.13B

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

Mult \ Net Debt	-$1.44B	-$441.77M	$558.23M	$1.56B	$2.56B
4.8x	$138.57	$71.35	$4.13	$-63.08	$-130.30
6.8x	$155.84	$88.63	$21.41	$-45.80	$-113.02
8.8x	$173.12	$105.91	$38.69	$-28.53	$-95.74
10.8x	$190.40	$123.18	$55.97	$-11.25	$-78.46
12.8x	$207.68	$140.46	$73.25	$6.03	$-61.19

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