PAPL — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($0.66)
DCF	$-0.68	-203.4%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$344,939

Near-term growth (yrs 1–5)(%)Rev: -5.8% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 10.74%

Computed WACC: 10.74%

Cost of equity (Re)18.78%(Rf 4.30% + β 2.63 × ERP 5.50%)

Cost of debt (Rd)0.37%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)56.54%

Debt weight (D/V)43.46%

Results

Intrinsic Value / share$-0.63

Current Price$0.66

Upside / Downside-195.9%

Net Debt (used)$11.80M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-0.69	$-0.73	$-0.79	$-0.85	$-0.93
8.0%	$-0.64	$-0.68	$-0.73	$-0.78	$-0.84
9.0%	$-0.62	$-0.65	$-0.68	$-0.73	$-0.78
10.0%	$-0.59	$-0.62	$-0.65	$-0.69	$-0.73
11.0%	$-0.58	$-0.60	$-0.63	$-0.66	$-0.70

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-8.26

Book Value / share($)Yahoo: $-4.08

Results

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

Graham Number—

Current Price$0.66

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 10.74%

Terminal growth rate(%)

Computed WACC: 10.74%

Cost of equity (Re)18.78%(Rf 4.30% + β 2.63 × ERP 5.50%)

Cost of debt (Rd)0.37%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)56.54%

Debt weight (D/V)43.46%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$0.66

Implied Near-term FCF Growth—

Historical Revenue Growth-5.8%

Historical Earnings Growth—

Base FCF (TTM)-$344,939

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$0.66

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$2.24M

Target EV/EBITDA multipleCurrent: -12.9×

Net Debt($B)Default: $11.80M

Results

Implied Equity Value / share$0.66

Current Price$0.66

Upside / Downside-0.4%

Implied EV$29.00M

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