SPRU — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($3.85)
DCF	$-142.87	-3810.9%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$3.99	+3.5%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$13.06M

Near-term growth (yrs 1–5)(%)Rev: 43.7% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 1.11%

Computed WACC: 1.11%

Cost of equity (Re)12.13%(Rf 4.30% + β 1.42 × 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)9.17%

Debt weight (D/V)90.83%

Results

Intrinsic Value / share—

Current Price$3.85

Upside / Downside—

Net Debt (used)$634.98M

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

WACC \ Near-term	35.7%	39.7%	43.7%	47.7%	51.7%
7.0%	$-163.51	$-183.22	$-205.30	$-229.96	$-257.41
8.0%	$-135.72	$-151.10	$-168.32	$-187.54	$-208.93
9.0%	$-116.74	$-129.16	$-143.06	$-158.57	$-175.83
10.0%	$-103.02	$-113.31	$-124.81	$-137.65	$-151.93
11.0%	$-92.70	$-101.38	$-111.08	$-121.90	$-133.94

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.32

Book Value / share($)Yahoo: $6.87

Results

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

Graham Number—

Current Price$3.85

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 1.11%

Terminal growth rate(%)

Computed WACC: 1.11%

Cost of equity (Re)12.13%(Rf 4.30% + β 1.42 × 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)9.17%

Debt weight (D/V)90.83%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$3.85

Implied Near-term FCF Growth—

Historical Revenue Growth43.7%

Historical Earnings Growth—

Base FCF (TTM)-$13.06M

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$3.85

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $37.09M

Target EV/EBITDA multipleCurrent: 19.1×

Net Debt($B)Default: $634.98M

Results

Implied Equity Value / share$3.99

Current Price$3.85

Upside / Downside+3.5%

Implied EV$707.40M

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

Mult \ Net Debt	-$1.37B	-$365.02M	$634.98M	$1.63B	$2.63B
15.1x	$105.90	$50.86	$-4.18	$-59.22	$-114.26
17.1x	$109.98	$54.94	$-0.10	$-55.14	$-110.17
19.1x	$114.06	$59.03	$3.99	$-51.05	$-106.09
21.1x	$118.15	$63.11	$8.07	$-46.97	$-102.01
23.1x	$122.23	$67.19	$12.15	$-42.89	$-97.93

← Overview Financial Statements ← Companies