RELY — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($17.58)
DCF	$3.33	-81.1%
Graham Number	$5.36	-69.5%
Reverse DCF	—	implied g: 70.4%
DDM	—	—
EV/EBITDA	$16.93	-3.7%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $6.12M

Near-term growth (yrs 1–5)(%)Rev: 25.7% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 4.40%

Computed WACC: 4.40%

Cost of equity (Re)4.62%(Rf 4.30% + β 0.06 × 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)95.07%

Debt weight (D/V)4.93%

Results

Intrinsic Value / share$8.23

Current Price$17.58

Upside / Downside-53.2%

Net Debt (used)-$350.30M

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

WACC \ Near-term	17.7%	21.7%	25.7%	29.7%	33.7%
7.0%	$3.52	$3.84	$4.21	$4.63	$5.10
8.0%	$3.14	$3.40	$3.69	$4.02	$4.39
9.0%	$2.88	$3.09	$3.33	$3.60	$3.90
10.0%	$2.69	$2.87	$3.07	$3.29	$3.54
11.0%	$2.55	$2.70	$2.87	$3.06	$3.27

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.31

Book Value / share($)Yahoo: $4.13

Results

Graham Number$5.36

Current Price$17.58

Margin of Safety-69.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 4.40%

Terminal growth rate(%)

Computed WACC: 4.40%

Cost of equity (Re)4.62%(Rf 4.30% + β 0.06 × 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)95.07%

Debt weight (D/V)4.93%

Results

Current Price$17.58

Implied Near-term FCF Growth41.1%

Historical Revenue Growth25.7%

Historical Earnings Growth—

Base FCF (TTM)$6.12M

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$17.58

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $91.04M

Target EV/EBITDA multipleCurrent: 35.3×

Net Debt($B)Default: -$350.30M

Results

Implied Equity Value / share$16.93

Current Price$17.58

Upside / Downside-3.7%

Implied EV$3.22B

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

Mult \ Net Debt	-$2.35B	-$1.35B	-$350.30M	$649.70M	$1.65B
31.3x	$24.70	$19.95	$15.20	$10.45	$5.71
33.3x	$25.56	$20.81	$16.07	$11.32	$6.57
35.3x	$26.42	$21.68	$16.93	$12.18	$7.44
37.3x	$27.29	$22.54	$17.79	$13.05	$8.30
39.3x	$28.15	$23.41	$18.66	$13.91	$9.16

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