PENG — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($20.05)
DCF	$48.11	+139.9%
Graham Number	$6.06	-69.8%
Reverse DCF	—	implied g: -9.2%
DDM	—	—
EV/EBITDA	$24.87	+24.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $147.90M

Near-term growth (yrs 1–5)(%)Rev: 0.6% / EPS: -61.1%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 10.92%

Computed WACC: 10.92%

Cost of equity (Re)16.41%(Rf 4.30% + β 2.20 × 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)66.56%

Debt weight (D/V)33.44%

Results

Intrinsic Value / share$36.72

Current Price$20.05

Upside / Downside+83.1%

Net Debt (used)$67.95M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$48.53	$58.61	$70.33	$83.90	$99.53
8.0%	$39.67	$47.78	$57.20	$68.09	$80.61
9.0%	$33.52	$40.28	$48.11	$57.15	$67.54
10.0%	$29.01	$34.77	$41.45	$49.14	$57.97
11.0%	$25.56	$30.57	$36.35	$43.02	$50.66

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.22

Book Value / share($)Yahoo: $7.41

Results

Graham Number$6.06

Current Price$20.05

Margin of Safety-69.8%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 10.92%

Terminal growth rate(%)

Computed WACC: 10.92%

Cost of equity (Re)16.41%(Rf 4.30% + β 2.20 × 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)66.56%

Debt weight (D/V)33.44%

Results

Current Price$20.05

Implied Near-term FCF Growth-5.4%

Historical Revenue Growth0.6%

Historical Earnings Growth-61.1%

Base FCF (TTM)$147.90M

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$20.05

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $139.36M

Target EV/EBITDA multipleCurrent: 9.9×

Net Debt($B)Default: $67.95M

Results

Implied Equity Value / share$24.87

Current Price$20.05

Upside / Downside+24.0%

Implied EV$1.37B

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

Mult \ Net Debt	-$1.93B	-$932.05M	$67.95M	$1.07B	$2.07B
5.9x	$52.31	$33.29	$14.26	$-4.77	$-23.79
7.9x	$57.62	$38.59	$19.56	$0.54	$-18.49
9.9x	$62.92	$43.89	$24.87	$5.84	$-13.18
11.9x	$68.22	$49.20	$30.17	$11.14	$-7.88
13.9x	$73.52	$54.50	$35.47	$16.45	$-2.58

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