SHLS — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($5.96)
DCF	$-7.83	-231.4%
Graham Number	$3.91	-34.3%
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$5.96	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$9.89M

Near-term growth (yrs 1–5)(%)Rev: 38.6% / EPS: 21.0%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 11.63%

Computed WACC: 11.63%

Cost of equity (Re)13.71%(Rf 4.30% + β 1.71 × 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)84.81%

Debt weight (D/V)15.19%

Results

Intrinsic Value / share$-5.41

Current Price$5.96

Upside / Downside-190.8%

Net Debt (used)$171.31M

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

WACC \ Near-term	30.6%	34.6%	38.6%	42.6%	46.6%
7.0%	$-8.99	$-10.26	$-11.68	$-13.28	$-15.06
8.0%	$-7.29	$-8.28	$-9.39	$-10.64	$-12.04
9.0%	$-6.13	$-6.93	$-7.83	$-8.84	$-9.97
10.0%	$-5.29	$-5.95	$-6.70	$-7.54	$-8.47
11.0%	$-4.65	$-5.22	$-5.85	$-6.56	$-7.35

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.19

Book Value / share($)Yahoo: $3.58

Results

Graham Number$3.91

Current Price$5.96

Margin of Safety-34.3%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 11.63%

Terminal growth rate(%)

Computed WACC: 11.63%

Cost of equity (Re)13.71%(Rf 4.30% + β 1.71 × 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)84.81%

Debt weight (D/V)15.19%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$5.96

Implied Near-term FCF Growth—

Historical Revenue Growth38.6%

Historical Earnings Growth21.0%

Base FCF (TTM)-$9.89M

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$5.96

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $88.54M

Target EV/EBITDA multipleCurrent: 13.2×

Net Debt($B)Default: $171.31M

Results

Implied Equity Value / share$5.96

Current Price$5.96

Upside / Downside+0.0%

Implied EV$1.17B

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

Mult \ Net Debt	-$1.83B	-$828.69M	$171.31M	$1.17B	$2.17B
9.2x	$15.79	$9.82	$3.85	$-2.13	$-8.10
11.2x	$16.85	$10.88	$4.90	$-1.07	$-7.04
13.2x	$17.91	$11.94	$5.96	$-0.01	$-5.99
15.2x	$18.97	$12.99	$7.02	$1.05	$-4.93
17.2x	$20.03	$14.05	$8.08	$2.10	$-3.87

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