SMMT — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($16.19)
DCF	$2.80	-82.7%
Graham Number	—	—
Reverse DCF	—	implied g: 42.5%
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: $84.08M

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

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: -3.32%

Computed WACC: -3.32%

Cost of equity (Re)-3.33%(Rf 4.30% + β -1.39 × 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)99.83%

Debt weight (D/V)0.17%

Results

Intrinsic Value / share—

Current Price$16.19

Upside / Downside—

Net Debt (used)-$692.56M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$2.81	$3.20	$3.65	$4.18	$4.78
8.0%	$2.47	$2.78	$3.15	$3.57	$4.05
9.0%	$2.23	$2.50	$2.80	$3.15	$3.55
10.0%	$2.06	$2.28	$2.54	$2.84	$3.18
11.0%	$1.93	$2.12	$2.34	$2.60	$2.90

2 — Graham Number

Assumptions

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

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

Book Value / share($)Yahoo: $0.85

Results

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

Graham Number—

Current Price$16.19

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: -3.32%

Terminal growth rate(%)

Computed WACC: -3.32%

Cost of equity (Re)-3.33%(Rf 4.30% + β -1.39 × 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)99.83%

Debt weight (D/V)0.17%

Results

Current Price$16.19

Implied Near-term FCF Growth65.0%

Historical Revenue Growth—

Historical Earnings Growth—

Base FCF (TTM)$84.08M

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$16.19

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$1.09B

Target EV/EBITDA multipleCurrent: -10.8×

Net Debt($B)Default: -$692.56M

Results

Implied Equity Value / share$16.19

Current Price$16.19

Upside / Downside+0.0%

Implied EV$11.86B

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