SMHI — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($7.67)
DCF	$-49.45	-745.2%
Graham Number	—	—
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: -$60.79M

Near-term growth (yrs 1–5)(%)Rev: -25.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 3.95%

Computed WACC: 3.95%

Cost of equity (Re)10.37%(Rf 4.30% + β 1.10 × 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)38.12%

Debt weight (D/V)61.88%

Results

Intrinsic Value / share$-189.01

Current Price$7.67

Upside / Downside-2565.9%

Net Debt (used)$266.74M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-49.79	$-57.86	$-67.25	$-78.11	$-90.63
8.0%	$-42.69	$-49.19	$-56.73	$-65.45	$-75.48
9.0%	$-37.77	$-43.18	$-49.45	$-56.69	$-65.01
10.0%	$-34.16	$-38.77	$-44.12	$-50.28	$-57.34
11.0%	$-31.39	$-35.40	$-40.04	$-45.37	$-51.49

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.44

Book Value / share($)Yahoo: $9.81

Results

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

Graham Number—

Current Price$7.67

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 3.95%

Terminal growth rate(%)

Computed WACC: 3.95%

Cost of equity (Re)10.37%(Rf 4.30% + β 1.10 × 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)38.12%

Debt weight (D/V)61.88%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$7.67

Implied Near-term FCF Growth—

Historical Revenue Growth-25.0%

Historical Earnings Growth—

Base FCF (TTM)-$60.79M

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$7.67

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$2.63M

Target EV/EBITDA multipleCurrent: -178.9×

Net Debt($B)Default: $266.74M

Results

Implied Equity Value / share$7.53

Current Price$7.67

Upside / Downside-1.8%

Implied EV$469.74M

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