SMA

SMA — Valuation Models

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

Valuation Summary

ModelIntrinsic Valuevs Price ($33.66)
DCF$79.91+137.4%
Graham Number$8.48-74.8%
Reverse DCFimplied g: 12.9%
DDM$32.96-2.1%
EV/EBITDA$35.45+5.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: $104.67M
Rev: 24.0% / EPS: —
Default: 9% (no SEC data)

Results

Intrinsic Value / share$79.91
Current Price$33.66
Upside / Downside+137.4%
Net Debt (used)$1.04B
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term16.0%20.0%24.0%28.0%32.0%
7.0%$90.56$109.92$131.98$157.02$185.33
8.0%$68.41$83.70$101.10$120.85$143.16
9.0%$53.20$65.69$79.91$96.02$114.22
10.0%$42.15$52.61$64.51$78.00$93.22
11.0%$33.78$42.71$52.86$64.36$77.32

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $0.15
Yahoo: $21.32

Results

Graham Number$8.48
Current Price$33.66
Margin of Safety-74.8%
Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

Default: 9% (no SEC data)

Results

Current Price$33.66
Implied Near-term FCF Growth12.9%
Historical Revenue Growth24.0%
Historical Earnings Growth
Base FCF (TTM)$104.67M
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

Yahoo: $1.60

Results

DDM Intrinsic Value / share$32.96
Current Price$33.66
Upside / Downside-2.1%
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: $131.38M
Current: 22.9×
Default: $1.04B

Results

Implied Equity Value / share$35.45
Current Price$33.66
Upside / Downside+5.3%
Implied EV$3.01B
Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)
Mult \ Net Debt$1.04B$1.04B$1.04B$1.04B$1.04B
18.9x$25.96$25.96$25.96$25.96$25.96
20.9x$30.71$30.71$30.71$30.71$30.71
22.9x$35.45$35.45$35.45$35.45$35.45
24.9x$40.20$40.20$40.20$40.20$40.20
26.9x$44.94$44.94$44.94$44.94$44.94