SLNO — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($39.06)
DCF	$20.49	-47.5%
Graham Number	—	—
Reverse DCF	—	implied g: 18.4%
DDM	—	—
EV/EBITDA	$37.54	-3.9%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $48.27M

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

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: -12.67%

Computed WACC: -12.67%

Cost of equity (Re)-13.20%(Rf 4.30% + β -3.18 × ERP 5.50%)

Cost of debt (Rd)10.99%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)97.56%

Debt weight (D/V)2.44%

Results

Intrinsic Value / share—

Current Price$39.06

Upside / Downside—

Net Debt (used)-$252.92M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$20.62	$23.84	$27.59	$31.92	$36.91
8.0%	$17.79	$20.38	$23.39	$26.87	$30.87
9.0%	$15.83	$17.99	$20.49	$23.38	$26.69
10.0%	$14.39	$16.23	$18.36	$20.82	$23.64
11.0%	$13.29	$14.88	$16.73	$18.86	$21.30

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.75

Book Value / share($)Yahoo: $8.61

Results

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

Graham Number—

Current Price$39.06

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: -12.67%

Terminal growth rate(%)

Computed WACC: -12.67%

Cost of equity (Re)-13.20%(Rf 4.30% + β -3.18 × ERP 5.50%)

Cost of debt (Rd)10.99%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)97.56%

Debt weight (D/V)2.44%

Results

Current Price$39.06

Implied Near-term FCF Growth65.0%

Historical Revenue Growth—

Historical Earnings Growth—

Base FCF (TTM)$48.27M

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$39.06

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $16.97M

Target EV/EBITDA multipleCurrent: 103.9×

Net Debt($B)Default: -$252.92M

Results

Implied Equity Value / share$37.54

Current Price$39.06

Upside / Downside-3.9%

Implied EV$1.76B

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

Mult \ Net Debt	-$2.25B	-$1.25B	-$252.92M	$747.08M	$1.75B
99.9x	$73.52	$54.90	$36.28	$17.66	$-0.96
101.9x	$74.15	$55.53	$36.91	$18.29	$-0.33
103.9x	$74.78	$56.16	$37.54	$18.92	$0.31
105.9x	$75.41	$56.79	$38.18	$19.56	$0.94
107.9x	$76.04	$57.43	$38.81	$20.19	$1.57

← Overview Financial Statements ← Companies