QVCGA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($3.38)
DCF	$-543.47	-16178.9%
Graham Number	—	—
Reverse DCF	—	implied g: 27.5%
DDM	—	—
EV/EBITDA	$15.80	+367.6%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $93.88M

Near-term growth (yrs 1–5)(%)Rev: -5.6% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 0.07%

Computed WACC: 0.07%

Cost of equity (Re)19.90%(Rf 4.30% + β 2.84 × 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)0.36%

Debt weight (D/V)99.64%

Results

Intrinsic Value / share—

Current Price$3.38

Upside / Downside—

Net Debt (used)$5.93B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-541.67	$-499.05	$-449.46	$-392.07	$-325.96
8.0%	$-579.18	$-544.87	$-505.02	$-458.96	$-405.96
9.0%	$-605.17	$-576.60	$-543.47	$-505.22	$-461.27
10.0%	$-624.25	$-599.88	$-571.65	$-539.11	$-501.77
11.0%	$-638.85	$-617.68	$-593.19	$-565.00	$-532.69

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-460.69

Book Value / share($)Yahoo: $-380.74

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$3.38

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 0.07%

Terminal growth rate(%)

Computed WACC: 0.07%

Cost of equity (Re)19.90%(Rf 4.30% + β 2.84 × 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)0.36%

Debt weight (D/V)99.64%

Results

Current Price$3.38

Implied Near-term FCF Growth65.0%

Historical Revenue Growth-5.6%

Historical Earnings Growth—

Base FCF (TTM)$93.88M

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$3.38

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $937.00M

Target EV/EBITDA multipleCurrent: 6.5×

Net Debt($B)Default: $5.93B

Results

Implied Equity Value / share$15.80

Current Price$3.38

Upside / Downside+367.6%

Implied EV$6.06B

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

Mult \ Net Debt	$3.93B	$4.93B	$5.93B	$6.93B	$7.93B
2.5x	$-205.85	$-332.65	$-459.45	$-586.26	$-713.06
4.5x	$31.78	$-95.02	$-221.82	$-348.63	$-475.43
6.5x	$269.41	$142.61	$15.80	$-111.00	$-237.80
8.5x	$507.04	$380.24	$253.43	$126.63	$-0.17
10.5x	$744.67	$617.87	$491.06	$364.26	$237.46

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