SPT — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($6.51)
DCF	$52.09	+700.1%
Graham Number	—	—
Reverse DCF	—	implied g: -20.0%
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: $98.91M

Near-term growth (yrs 1–5)(%)Rev: 12.9% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.25%

Computed WACC: 9.25%

Cost of equity (Re)9.70%(Rf 4.30% + β 0.98 × ERP 5.50%)

Cost of debt (Rd)7.70%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)87.63%

Debt weight (D/V)12.37%

Results

Intrinsic Value / share$50.10

Current Price$6.51

Upside / Downside+669.6%

Net Debt (used)-$40.55M

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

WACC \ Near-term	4.9%	8.9%	12.9%	16.9%	20.9%
7.0%	$54.87	$65.25	$77.22	$90.95	$106.63
8.0%	$44.59	$52.86	$62.39	$73.32	$85.79
9.0%	$37.49	$44.32	$52.17	$61.17	$71.43
10.0%	$32.31	$38.08	$44.72	$52.31	$60.97
11.0%	$28.36	$33.33	$39.05	$45.58	$53.01

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.74

Book Value / share($)Yahoo: $3.42

Results

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

Graham Number—

Current Price$6.51

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.25%

Terminal growth rate(%)

Computed WACC: 9.25%

Cost of equity (Re)9.70%(Rf 4.30% + β 0.98 × ERP 5.50%)

Cost of debt (Rd)7.70%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)87.63%

Debt weight (D/V)12.37%

Results

Current Price$6.51

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth12.9%

Historical Earnings Growth—

Base FCF (TTM)$98.91M

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$6.51

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$29.92M

Target EV/EBITDA multipleCurrent: -11.6×

Net Debt($B)Default: -$40.55M

Results

Implied Equity Value / share$7.23

Current Price$6.51

Upside / Downside+11.1%

Implied EV$347.18M

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