RBBN — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($2.33)
DCF	$17813158373.67	+764513234821.6%
Graham Number	$3.56	+52.6%
Reverse DCF	—	implied g: 4.5%
DDM	—	—
EV/EBITDA	$2.42	+3.7%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $42.16M

Near-term growth (yrs 1–5)(%)Rev: -9.6% / EPS: 1271.0%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.18%

Computed WACC: 5.18%

Cost of equity (Re)10.27%(Rf 4.30% + β 1.08 × 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)50.46%

Debt weight (D/V)49.54%

Results

Intrinsic Value / share$59199708486.54

Current Price$2.33

Upside / Downside+2540760020781.5%

Net Debt (used)$308.73M

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

WACC \ Near-term	1263.0%	1267.0%	1271.0%	1275.0%	1279.0%
7.0%	$29426195290.89	$29860522740.39	$30299963618.21	$30744562943.14	$31194365997.42
8.0%	$22177656905.56	$22504996710.38	$22836190355.46	$23171271770.11	$23510275082.24
9.0%	$17299475474.78	$17554813848.11	$17813158373.67	$18074535517.73	$18338971901.42
10.0%	$13831939212.78	$14036097125.25	$14242658631.62	$14451644893.20	$14663077195.15
11.0%	$11268019814.13	$11434334553.25	$11602607350.62	$11772855445.04	$11945096176.21

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.22

Book Value / share($)Yahoo: $2.55

Results

Graham Number$3.56

Current Price$2.33

Margin of Safety+52.6%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.18%

Terminal growth rate(%)

Computed WACC: 5.18%

Cost of equity (Re)10.27%(Rf 4.30% + β 1.08 × 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)50.46%

Debt weight (D/V)49.54%

Results

Current Price$2.33

Implied Near-term FCF Growth-8.6%

Historical Revenue Growth-9.6%

Historical Earnings Growth1271.0%

Base FCF (TTM)$42.16M

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$2.33

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $81.59M

Target EV/EBITDA multipleCurrent: 9.0×

Net Debt($B)Default: $308.73M

Results

Implied Equity Value / share$2.42

Current Price$2.33

Upside / Downside+3.7%

Implied EV$735.47M

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

Mult \ Net Debt	-$1.69B	-$691.27M	$308.73M	$1.31B	$2.31B
5.0x	$11.89	$6.23	$0.57	$-5.09	$-10.76
7.0x	$12.82	$7.15	$1.49	$-4.17	$-9.83
9.0x	$13.74	$8.08	$2.42	$-3.25	$-8.91
11.0x	$14.67	$9.00	$3.34	$-2.32	$-7.98
13.0x	$15.59	$9.93	$4.26	$-1.40	$-7.06

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