SMID — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($39.82)
DCF	$5.44	-86.3%
Graham Number	$22.21	-44.2%
Reverse DCF	—	implied g: 46.9%
DDM	—	—
EV/EBITDA	$39.82	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $1.15M

Near-term growth (yrs 1–5)(%)Rev: -9.0% / EPS: -8.5%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 14.09%

Computed WACC: 14.09%

Cost of equity (Re)14.32%(Rf 4.30% + β 1.82 × ERP 5.50%)

Cost of debt (Rd)4.93%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)97.83%

Debt weight (D/V)2.17%

Results

Intrinsic Value / share$3.75

Current Price$39.82

Upside / Downside-90.6%

Net Debt (used)-$8.69M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$5.47	$6.25	$7.15	$8.19	$9.39
8.0%	$4.79	$5.41	$6.14	$6.97	$7.94
9.0%	$4.32	$4.84	$5.44	$6.13	$6.93
10.0%	$3.97	$4.41	$4.93	$5.52	$6.20
11.0%	$3.70	$4.09	$4.53	$5.05	$5.63

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.23

Book Value / share($)Yahoo: $9.83

Results

Graham Number$22.21

Current Price$39.82

Margin of Safety-44.2%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 14.09%

Terminal growth rate(%)

Computed WACC: 14.09%

Cost of equity (Re)14.32%(Rf 4.30% + β 1.82 × ERP 5.50%)

Cost of debt (Rd)4.93%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)97.83%

Debt weight (D/V)2.17%

Results

Current Price$39.82

Implied Near-term FCF Growth63.8%

Historical Revenue Growth-9.0%

Historical Earnings Growth-8.5%

Base FCF (TTM)$1.15M

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$39.82

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $18.21M

Target EV/EBITDA multipleCurrent: 11.1×

Net Debt($B)Default: -$8.69M

Results

Implied Equity Value / share$39.82

Current Price$39.82

Upside / Downside+0.0%

Implied EV$202.55M

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

Mult \ Net Debt	-$2.01B	-$1.01B	-$8.69M	$991.31M	$1.99B
7.1x	$403.12	$214.61	$26.09	$-162.43	$-350.94
9.1x	$409.99	$221.47	$32.96	$-155.56	$-344.08
11.1x	$416.85	$228.34	$39.82	$-148.69	$-337.21
13.1x	$423.72	$235.20	$46.69	$-141.83	$-330.34
15.1x	$430.58	$242.07	$53.55	$-134.96	$-323.48

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