SMR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($13.05)
DCF	$12.10	-7.3%
Graham Number	—	—
Reverse DCF	—	implied g: 7.0%
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: $123.53M

Near-term growth (yrs 1–5)(%)Rev: -94.7% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 16.68%

Computed WACC: 16.68%

Cost of equity (Re)16.68%(Rf 4.30% + β 2.25 × 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)100.00%

Debt weight (D/V)0.00%

Results

Intrinsic Value / share$7.91

Current Price$13.05

Upside / Downside-39.4%

Net Debt (used)-$1.25B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$12.17	$13.73	$15.55	$17.66	$20.08
8.0%	$10.79	$12.05	$13.51	$15.20	$17.15
9.0%	$9.84	$10.89	$12.10	$13.51	$15.12
10.0%	$9.14	$10.03	$11.07	$12.26	$13.63
11.0%	$8.60	$9.38	$10.28	$11.31	$12.50

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-2.14

Book Value / share($)Yahoo: $3.67

Results

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

Graham Number—

Current Price$13.05

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 16.68%

Terminal growth rate(%)

Computed WACC: 16.68%

Cost of equity (Re)16.68%(Rf 4.30% + β 2.25 × 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)100.00%

Debt weight (D/V)0.00%

Results

Current Price$13.05

Implied Near-term FCF Growth23.7%

Historical Revenue Growth-94.7%

Historical Earnings Growth—

Base FCF (TTM)$123.53M

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$13.05

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$181.00M

Target EV/EBITDA multipleCurrent: -15.7×

Net Debt($B)Default: -$1.25B

Results

Implied Equity Value / share$14.50

Current Price$13.05

Upside / Downside+11.1%

Implied EV$2.85B

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