SIGA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($6.26)
DCF	$24.07	+284.5%
Graham Number	$8.11	+29.6%
Reverse DCF	—	implied g: -20.0%
DDM	—	—
EV/EBITDA	$6.55	+4.6%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $88.44M

Near-term growth (yrs 1–5)(%)Rev: -73.8% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.73%

Computed WACC: 9.73%

Cost of equity (Re)9.75%(Rf 4.30% + β 0.99 × 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)99.80%

Debt weight (D/V)0.20%

Results

Intrinsic Value / share$21.86

Current Price$6.26

Upside / Downside+249.1%

Net Debt (used)-$171.04M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$24.26	$28.68	$33.82	$39.78	$46.64
8.0%	$20.37	$23.92	$28.06	$32.84	$38.34
9.0%	$17.67	$20.63	$24.07	$28.04	$32.60
10.0%	$15.69	$18.22	$21.15	$24.52	$28.40
11.0%	$14.17	$16.37	$18.91	$21.84	$25.19

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.03

Book Value / share($)Yahoo: $2.84

Results

Graham Number$8.11

Current Price$6.26

Margin of Safety+29.6%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.73%

Terminal growth rate(%)

Computed WACC: 9.73%

Cost of equity (Re)9.75%(Rf 4.30% + β 0.99 × 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)99.80%

Debt weight (D/V)0.20%

Results

Current Price$6.26

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth-73.8%

Historical Earnings Growth—

Base FCF (TTM)$88.44M

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$6.26

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $90.83M

Target EV/EBITDA multipleCurrent: 3.3×

Net Debt($B)Default: -$171.04M

Results

Implied Equity Value / share$6.55

Current Price$6.26

Upside / Downside+4.6%

Implied EV$298.03M

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

Mult \ Net Debt	-$2.17B	-$1.17B	-$171.04M	$828.96M	$1.83B
-0.7x	$29.41	$15.44	$1.48	$-12.49	$-26.45
1.3x	$31.94	$17.98	$4.01	$-9.95	$-23.92
3.3x	$34.48	$20.51	$6.55	$-7.41	$-21.38
5.3x	$37.02	$23.05	$9.09	$-4.88	$-18.84
7.3x	$39.55	$25.59	$11.62	$-2.34	$-16.30

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