SPCE — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($2.60)
DCF	$-86.77	-3437.5%
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: -$356.63M

Near-term growth (yrs 1–5)(%)Rev: -9.2% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 4.70%

Computed WACC: 4.70%

Cost of equity (Re)16.53%(Rf 4.30% + β 2.22 × 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)28.45%

Debt weight (D/V)71.55%

Results

Intrinsic Value / share$-256.24

Current Price$2.60

Upside / Downside-9955.3%

Net Debt (used)$84.59M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-87.51	$-104.97	$-125.29	$-148.80	$-175.88
8.0%	$-72.14	$-86.20	$-102.53	$-121.40	$-143.11
9.0%	$-61.50	$-73.20	$-86.77	$-102.44	$-120.45
10.0%	$-53.68	$-63.66	$-75.23	$-88.56	$-103.86
11.0%	$-47.70	$-56.37	$-66.40	$-77.95	$-91.19

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-6.84

Book Value / share($)Yahoo: $3.58

Results

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

Graham Number—

Current Price$2.60

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 4.70%

Terminal growth rate(%)

Computed WACC: 4.70%

Cost of equity (Re)16.53%(Rf 4.30% + β 2.22 × 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)28.45%

Debt weight (D/V)71.55%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$2.60

Implied Near-term FCF Growth—

Historical Revenue Growth-9.2%

Historical Earnings Growth—

Base FCF (TTM)-$356.63M

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$2.60

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$289.83M

Target EV/EBITDA multipleCurrent: -0.8×

Net Debt($B)Default: $84.59M

Results

Implied Equity Value / share$2.20

Current Price$2.60

Upside / Downside-15.2%

Implied EV$245.77M

← Overview Financial Statements ← Companies