STRS — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($30.70)
DCF	$88.56	+188.5%
Graham Number	—	—
Reverse DCF	—	implied g: -7.8%
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: $49.67M

Near-term growth (yrs 1–5)(%)Rev: -44.1% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.44%

Computed WACC: 6.44%

Cost of equity (Re)12.12%(Rf 4.30% + β 1.42 × 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)53.09%

Debt weight (D/V)46.91%

Results

Intrinsic Value / share$160.30

Current Price$30.70

Upside / Downside+422.2%

Net Debt (used)$164.08M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$89.50	$111.74	$137.63	$167.58	$202.09
8.0%	$69.92	$87.83	$108.63	$132.67	$160.33
9.0%	$56.35	$71.26	$88.56	$108.52	$131.46
10.0%	$46.39	$59.11	$73.85	$90.83	$110.32
11.0%	$38.77	$49.82	$62.60	$77.32	$94.19

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.02

Book Value / share($)Yahoo: $23.19

Results

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

Graham Number—

Current Price$30.70

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.44%

Terminal growth rate(%)

Computed WACC: 6.44%

Cost of equity (Re)12.12%(Rf 4.30% + β 1.42 × 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)53.09%

Debt weight (D/V)46.91%

Results

Current Price$30.70

Implied Near-term FCF Growth-14.4%

Historical Revenue Growth-44.1%

Historical Earnings Growth—

Base FCF (TTM)$49.67M

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$30.70

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$10.66M

Target EV/EBITDA multipleCurrent: -52.1×

Net Debt($B)Default: $164.08M

Results

Implied Equity Value / share$49.00

Current Price$30.70

Upside / Downside+59.6%

Implied EV$555.81M

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