STEM — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($10.07)
DCF	$-81.67	-911.0%
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: -$4.84M

Near-term growth (yrs 1–5)(%)Rev: 30.5% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 2.11%

Computed WACC: 2.11%

Cost of equity (Re)11.27%(Rf 4.30% + β 1.27 × 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)18.72%

Debt weight (D/V)81.28%

Results

Intrinsic Value / share—

Current Price$10.07

Upside / Downside—

Net Debt (used)$323.80M

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

WACC \ Near-term	22.5%	26.5%	30.5%	34.5%	38.5%
7.0%	$-87.67	$-95.94	$-105.32	$-115.90	$-127.79
8.0%	$-77.46	$-83.97	$-91.33	$-99.63	$-108.97
9.0%	$-70.47	$-75.76	$-81.75	$-88.50	$-96.08
10.0%	$-65.40	$-69.81	$-74.80	$-80.43	$-86.74
11.0%	$-61.57	$-65.32	$-69.56	$-74.33	$-79.69

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-12.83

Book Value / share($)Yahoo: $-28.09

Results

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

Graham Number—

Current Price$10.07

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 2.11%

Terminal growth rate(%)

Computed WACC: 2.11%

Cost of equity (Re)11.27%(Rf 4.30% + β 1.27 × 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)18.72%

Debt weight (D/V)81.28%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$10.07

Implied Near-term FCF Growth—

Historical Revenue Growth30.5%

Historical Earnings Growth—

Base FCF (TTM)-$4.84M

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$10.07

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$35.11M

Target EV/EBITDA multipleCurrent: -11.6×

Net Debt($B)Default: $323.80M

Results

Implied Equity Value / share$10.14

Current Price$10.07

Upside / Downside+0.7%

Implied EV$408.87M

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