RFL — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($1.45)
DCF	$56.98	+3829.7%
Graham Number	—	—
Reverse DCF	—	implied g: -1.7%
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: $2.45M

Near-term growth (yrs 1–5)(%)Rev: 87.5% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.20%

Computed WACC: 7.20%

Cost of equity (Re)7.26%(Rf 4.30% + β 0.54 × 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)99.12%

Debt weight (D/V)0.88%

Results

Intrinsic Value / share$87.45

Current Price$1.45

Upside / Downside+5931.2%

Net Debt (used)-$44.88M

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

WACC \ Near-term	79.5%	83.5%	87.5%	91.5%	95.5%
7.0%	$74.55	$83.09	$92.41	$102.56	$113.59
8.0%	$57.62	$64.19	$71.36	$79.17	$87.66
9.0%	$46.13	$51.36	$57.07	$63.29	$70.04
10.0%	$37.87	$42.15	$46.81	$51.89	$57.40
11.0%	$31.70	$35.26	$39.14	$43.36	$47.95

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.87

Book Value / share($)Yahoo: $1.65

Results

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

Graham Number—

Current Price$1.45

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.20%

Terminal growth rate(%)

Computed WACC: 7.20%

Cost of equity (Re)7.26%(Rf 4.30% + β 0.54 × 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)99.12%

Debt weight (D/V)0.88%

Results

Current Price$1.45

Implied Near-term FCF Growth-6.5%

Historical Revenue Growth87.5%

Historical Earnings Growth—

Base FCF (TTM)$2.45M

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$1.45

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$31.25M

Target EV/EBITDA multipleCurrent: -1.1×

Net Debt($B)Default: -$44.88M

Results

Implied Equity Value / share$1.55

Current Price$1.45

Upside / Downside+7.0%

Implied EV$34.19M

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