RUN — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($13.25)
DCF	$-55679.31	-420321.2%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$21.37	+61.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$2.65B

Near-term growth (yrs 1–5)(%)Rev: 123.5% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 3.06%

Computed WACC: 3.06%

Cost of equity (Re)17.84%(Rf 4.30% + β 2.46 × 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)17.16%

Debt weight (D/V)82.84%

Results

Intrinsic Value / share$-970192.16

Current Price$13.25

Upside / Downside-7322305.0%

Net Debt (used)$14.01B

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

WACC \ Near-term	115.5%	119.5%	123.5%	127.5%	131.5%
7.0%	$-76655.12	$-84020.55	$-91942.27	$-100451.24	$-109579.50
8.0%	$-58679.58	$-64313.96	$-70373.77	$-76882.66	$-83865.16
9.0%	$-46500.94	$-50962.61	$-55761.04	$-60914.98	$-66443.81
10.0%	$-37780.17	$-41402.16	$-45297.45	$-49481.22	$-53969.24
11.0%	$-31280.70	$-34276.94	$-37499.19	$-40960.01	$-44672.40

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-11.33

Book Value / share($)Yahoo: $13.41

Results

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

Graham Number—

Current Price$13.25

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 3.06%

Terminal growth rate(%)

Computed WACC: 3.06%

Cost of equity (Re)17.84%(Rf 4.30% + β 2.46 × 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)17.16%

Debt weight (D/V)82.84%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$13.25

Implied Near-term FCF Growth—

Historical Revenue Growth123.5%

Historical Earnings Growth—

Base FCF (TTM)-$2.65B

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$13.25

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $599.45M

Target EV/EBITDA multipleCurrent: 31.6×

Net Debt($B)Default: $14.01B

Results

Implied Equity Value / share$21.37

Current Price$13.25

Upside / Downside+61.3%

Implied EV$18.97B

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

Mult \ Net Debt	$6.01B	$10.01B	$14.01B	$18.01B	$22.01B
27.6x	$45.51	$28.27	$11.03	$-6.20	$-23.44
29.6x	$50.68	$33.44	$16.20	$-1.04	$-18.28
31.6x	$55.84	$38.61	$21.37	$4.13	$-13.11
33.6x	$61.01	$43.77	$26.53	$9.30	$-7.94
35.6x	$66.18	$48.94	$31.70	$14.46	$-2.78

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