SRG-PA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($23.95)
DCF	—	—
Graham Number	—	—
Reverse DCF	—	—
DDM	$36.05	+50.5%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$133.85M

Near-term growth (yrs 1–5)(%)Rev: 61.1% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 17.32%

Computed WACC: 17.32%

Cost of equity (Re)17.95%(Rf 4.30% + β 2.48 × ERP 5.50%)

Cost of debt (Rd)12.66%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)92.17%

Debt weight (D/V)7.83%

Results

Intrinsic Value / share—

Current Price$23.95

Upside / Downside—

Net Debt (used)$145.73M

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

WACC \ Near-term	53.1%	57.1%	61.1%	65.1%	69.1%
7.0%	—	—	—	—	—
8.0%	—	—	—	—	—
9.0%	—	—	—	—	—
10.0%	—	—	—	—	—
11.0%	—	—	—	—	—

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.78

Book Value / share($)Yahoo: $6.00

Results

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

Graham Number—

Current Price$23.95

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 17.32%

Terminal growth rate(%)

Computed WACC: 17.32%

Cost of equity (Re)17.95%(Rf 4.30% + β 2.48 × ERP 5.50%)

Cost of debt (Rd)12.66%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)92.17%

Debt weight (D/V)7.83%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$23.95

Implied Near-term FCF Growth—

Historical Revenue Growth61.1%

Historical Earnings Growth—

Base FCF (TTM)-$133.85M

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: $1.75

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$36.05

Current Price$23.95

Upside / Downside+50.5%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$32.60M

Target EV/EBITDA multipleCurrent: -46.0×

Net Debt($B)Default: $145.73M

Results

Implied Equity Value / share—

Current Price$23.95

Upside / Downside—

Implied EV$1.50B

← Overview Financial Statements ← Companies