SEMR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($11.80)
DCF	$17.07	+44.6%
Graham Number	—	—
Reverse DCF	—	implied g: 7.7%
DDM	—	—
EV/EBITDA	$13.56	+14.9%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $62.22M

Near-term growth (yrs 1–5)(%)Rev: 15.1% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 12.73%

Computed WACC: 12.73%

Cost of equity (Re)12.83%(Rf 4.30% + β 1.55 × 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)99.23%

Debt weight (D/V)0.77%

Results

Intrinsic Value / share$11.03

Current Price$11.80

Upside / Downside-6.5%

Net Debt (used)-$261.75M

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

WACC \ Near-term	7.1%	11.1%	15.1%	19.1%	23.1%
7.0%	$18.00	$21.02	$24.49	$28.47	$33.00
8.0%	$14.92	$17.32	$20.08	$23.24	$26.83
9.0%	$12.79	$14.77	$17.04	$19.64	$22.59
10.0%	$11.24	$12.91	$14.83	$17.01	$19.50
11.0%	$10.06	$11.50	$13.14	$15.02	$17.15

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.02

Book Value / share($)Yahoo: $1.94

Results

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

Graham Number—

Current Price$11.80

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 12.73%

Terminal growth rate(%)

Computed WACC: 12.73%

Cost of equity (Re)12.83%(Rf 4.30% + β 1.55 × 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)99.23%

Debt weight (D/V)0.77%

Results

Current Price$11.80

Implied Near-term FCF Growth16.6%

Historical Revenue Growth15.1%

Historical Earnings Growth—

Base FCF (TTM)$62.22M

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$11.80

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $2.08M

Target EV/EBITDA multipleCurrent: 723.0×

Net Debt($B)Default: -$261.75M

Results

Implied Equity Value / share$13.56

Current Price$11.80

Upside / Downside+14.9%

Implied EV$1.51B

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

Mult \ Net Debt	-$2.26B	-$1.26B	-$261.75M	$738.25M	$1.74B
719.0x	$28.83	$21.17	$13.50	$5.83	$-1.83
721.0x	$28.87	$21.20	$13.53	$5.87	$-1.80
723.0x	$28.90	$21.23	$13.56	$5.90	$-1.77
725.0x	$28.93	$21.26	$13.60	$5.93	$-1.74
727.0x	$28.96	$21.29	$13.63	$5.96	$-1.71

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