PESI — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($14.57)
DCF	$-10.59	-172.7%
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: -$11.87M

Near-term growth (yrs 1–5)(%)Rev: 3.8% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.52%

Computed WACC: 6.52%

Cost of equity (Re)6.40%(Rf 4.30% + β 0.38 × ERP 5.50%)

Cost of debt (Rd)18.68%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)98.50%

Debt weight (D/V)1.50%

Results

Intrinsic Value / share$-17.62

Current Price$14.57

Upside / Downside-221.0%

Net Debt (used)-$12.29M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-10.69	$-12.99	$-15.66	$-18.75	$-22.31
8.0%	$-8.67	$-10.52	$-12.66	$-15.15	$-18.00
9.0%	$-7.27	$-8.81	$-10.59	$-12.65	$-15.02
10.0%	$-6.24	$-7.55	$-9.08	$-10.83	$-12.84
11.0%	$-5.46	$-6.60	$-7.91	$-9.43	$-11.17

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.64

Book Value / share($)Yahoo: $3.00

Results

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

Graham Number—

Current Price$14.57

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.52%

Terminal growth rate(%)

Computed WACC: 6.52%

Cost of equity (Re)6.40%(Rf 4.30% + β 0.38 × ERP 5.50%)

Cost of debt (Rd)18.68%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)98.50%

Debt weight (D/V)1.50%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$14.57

Implied Near-term FCF Growth—

Historical Revenue Growth3.8%

Historical Earnings Growth—

Base FCF (TTM)-$11.87M

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$14.57

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$10.30M

Target EV/EBITDA multipleCurrent: -25.0×

Net Debt($B)Default: -$12.29M

Results

Implied Equity Value / share$14.57

Current Price$14.57

Upside / Downside+0.0%

Implied EV$257.51M

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