STEX — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($2.12)
DCF	$25.27	+1091.9%
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: $119.09M

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

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 13.38%

Computed WACC: 13.38%

Cost of equity (Re)13.38%(Rf 4.30% + β 1.65 × 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)100.00%

Debt weight (D/V)0.00%

Results

Intrinsic Value / share$15.04

Current Price$2.12

Upside / Downside+609.4%

Net Debt (used)-$11.04M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$25.48	$30.61	$36.57	$43.48	$51.43
8.0%	$20.97	$25.10	$29.89	$35.43	$41.80
9.0%	$17.85	$21.28	$25.27	$29.87	$35.15
10.0%	$15.55	$18.48	$21.88	$25.79	$30.28
11.0%	$13.80	$16.34	$19.29	$22.68	$26.56

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.45

Book Value / share($)Yahoo: $-0.20

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$2.12

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 13.38%

Terminal growth rate(%)

Computed WACC: 13.38%

Cost of equity (Re)13.38%(Rf 4.30% + β 1.65 × 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)100.00%

Debt weight (D/V)0.00%

Results

Current Price$2.12

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth—

Historical Earnings Growth—

Base FCF (TTM)$119.09M

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$2.12

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$28.55M

Target EV/EBITDA multipleCurrent: -2.6×

Net Debt($B)Default: -$11.04M

Results

Implied Equity Value / share$1.01

Current Price$2.12

Upside / Downside-52.4%

Implied EV$72.91M

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