SMC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($29.77)
DCF	$1682.14	+5550.5%
Graham Number	—	—
Reverse DCF	—	implied g: -7.7%
DDM	—	—
EV/EBITDA	$83.24	+179.6%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $171.32M

Near-term growth (yrs 1–5)(%)Rev: 40.4% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.19%

Computed WACC: 9.19%

Cost of equity (Re)9.21%(Rf 4.30% + β 0.89 × ERP 5.50%)

Cost of debt (Rd)11.62%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)25.23%

Debt weight (D/V)74.77%

Results

Intrinsic Value / share$1618.88

Current Price$29.77

Upside / Downside+5337.9%

Net Debt (used)$1.06B

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

WACC \ Near-term	32.4%	36.4%	40.4%	44.4%	48.4%
7.0%	$1994.95	$2321.64	$2688.50	$3099.15	$3557.41
8.0%	$1548.87	$1804.14	$2090.69	$2411.35	$2769.10
9.0%	$1243.95	$1450.43	$1682.14	$1941.35	$2230.46
10.0%	$1023.45	$1194.68	$1386.78	$1601.60	$1841.13
11.0%	$857.35	$1002.06	$1164.35	$1345.78	$1548.01

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-3.34

Book Value / share($)Yahoo: $36.00

Results

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

Graham Number—

Current Price$29.77

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.19%

Terminal growth rate(%)

Computed WACC: 9.19%

Cost of equity (Re)9.21%(Rf 4.30% + β 0.89 × ERP 5.50%)

Cost of debt (Rd)11.62%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)25.23%

Debt weight (D/V)74.77%

Results

Current Price$29.77

Implied Near-term FCF Growth-7.3%

Historical Revenue Growth40.4%

Historical Earnings Growth—

Base FCF (TTM)$171.32M

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$29.77

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $192.68M

Target EV/EBITDA multipleCurrent: 10.8×

Net Debt($B)Default: $1.06B

Results

Implied Equity Value / share$83.24

Current Price$29.77

Upside / Downside+179.6%

Implied EV$2.08B

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

Mult \ Net Debt	$1.06B	$1.06B	$1.06B	$1.06B	$1.06B
6.8x	$20.39	$20.39	$20.39	$20.39	$20.39
8.8x	$51.82	$51.82	$51.82	$51.82	$51.82
10.8x	$83.24	$83.24	$83.24	$83.24	$83.24
12.8x	$114.67	$114.67	$114.67	$114.67	$114.67
14.8x	$146.10	$146.10	$146.10	$146.10	$146.10

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