SIEB — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($2.04)
DCF	$5.58	+172.8%
Graham Number	$3.02	+47.5%
Reverse DCF	—	—
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: —

Near-term growth (yrs 1–5)(%)Rev: 18.9% / EPS: -58.0%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 4.65%

Computed WACC: 4.65%

Cost of equity (Re)10.17%(Rf 4.30% + β 1.07 × ERP 5.50%)

Cost of debt (Rd)3.63%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)24.41%

Debt weight (D/V)75.59%

Results

Intrinsic Value / share$5.58

Current Price$2.04

Upside / Downside+172.8%

Net Debt (used)-$225.55M

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

WACC \ Near-term	10.9%	14.9%	18.9%	22.9%	26.9%
7.0%	$5.58	$5.58	$5.58	$5.58	$5.58
8.0%	$5.58	$5.58	$5.58	$5.58	$5.58
9.0%	$5.58	$5.58	$5.58	$5.58	$5.58
10.0%	$5.58	$5.58	$5.58	$5.58	$5.58
11.0%	$5.58	$5.58	$5.58	$5.58	$5.58

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.18

Book Value / share($)Yahoo: $2.25

Results

Graham Number$3.02

Current Price$2.04

Margin of Safety+47.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 4.65%

Terminal growth rate(%)

Computed WACC: 4.65%

Cost of equity (Re)10.17%(Rf 4.30% + β 1.07 × ERP 5.50%)

Cost of debt (Rd)3.63%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)24.41%

Debt weight (D/V)75.59%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$2.04

Implied Near-term FCF Growth—

Historical Revenue Growth18.9%

Historical Earnings Growth-58.0%

Base FCF (TTM)—

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$2.04

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: -$225.55M

Results

Implied Equity Value / share$5.58

Current Price$2.04

Upside / Downside+172.8%

Implied EV$0

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