SPRY — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($9.22)
DCF	$-158864612488.38	-1723043519496.7%
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: -$56.19M

Near-term growth (yrs 1–5)(%)Rev: 1471.6% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.07%

Computed WACC: 7.07%

Cost of equity (Re)8.39%(Rf 4.30% + β 0.74 × 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)84.29%

Debt weight (D/V)15.71%

Results

Intrinsic Value / share$-264667660054.61

Current Price$9.22

Upside / Downside-2870581996353.9%

Net Debt (used)-$118.40M

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

WACC \ Near-term	1463.6%	1467.6%	1471.6%	1475.6%	1479.6%
7.0%	$-263534381692.47	$-266922539484.89	$-270345456184.31	$-273803398549.57	$-277296634700.89
8.0%	$-198574559052.66	$-201127553963.66	$-203706739895.73	$-206312317853.08	$-208944489865.71
9.0%	$-154862182741.87	$-156853184829.93	$-158864612488.38	$-160896622474.22	$-162949372344.44
10.0%	$-123794036533.83	$-125385607690.94	$-126993506680.50	$-128617858811.21	$-130258790031.27
11.0%	$-100824988692.22	$-102121255839.76	$-103430821313.62	$-104753787172.44	$-106090255995.66

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.81

Book Value / share($)Yahoo: $1.49

Results

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

Graham Number—

Current Price$9.22

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.07%

Terminal growth rate(%)

Computed WACC: 7.07%

Cost of equity (Re)8.39%(Rf 4.30% + β 0.74 × 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)84.29%

Debt weight (D/V)15.71%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$9.22

Implied Near-term FCF Growth—

Historical Revenue Growth1471.6%

Historical Earnings Growth—

Base FCF (TTM)-$56.19M

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$9.22

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$89.81M

Target EV/EBITDA multipleCurrent: -19.1×

Net Debt($B)Default: -$118.40M

Results

Implied Equity Value / share$18.56

Current Price$9.22

Upside / Downside+101.3%

Implied EV$1.72B

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