SXT — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($100.58)
DCF	$-14.14	-114.1%
Graham Number	$44.81	-55.5%
Reverse DCF	—	implied g: 78.3%
DDM	$33.78	-66.4%
EV/EBITDA	$101.53	+0.9%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $6.37M

Near-term growth (yrs 1–5)(%)Rev: 4.5% / EPS: -15.4%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.76%

Computed WACC: 6.76%

Cost of equity (Re)7.32%(Rf 4.30% + β 0.55 × ERP 5.50%)

Cost of debt (Rd)4.47%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)85.09%

Debt weight (D/V)14.91%

Results

Intrinsic Value / share$-12.74

Current Price$100.58

Upside / Downside-112.7%

Net Debt (used)$712.88M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-14.12	$-13.58	$-12.96	$-12.24	$-11.41
8.0%	$-14.59	$-14.16	$-13.66	$-13.08	$-12.41
9.0%	$-14.92	$-14.56	$-14.14	$-13.66	$-13.11
10.0%	$-15.16	$-14.85	$-14.50	$-14.09	$-13.62
11.0%	$-15.34	$-15.08	$-14.77	$-14.41	$-14.01

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $3.16

Book Value / share($)Yahoo: $28.24

Results

Graham Number$44.81

Current Price$100.58

Margin of Safety-55.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.76%

Terminal growth rate(%)

Computed WACC: 6.76%

Cost of equity (Re)7.32%(Rf 4.30% + β 0.55 × ERP 5.50%)

Cost of debt (Rd)4.47%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)85.09%

Debt weight (D/V)14.91%

Results

Current Price$100.58

Implied Near-term FCF Growth66.3%

Historical Revenue Growth4.5%

Historical Earnings Growth-15.4%

Base FCF (TTM)$6.37M

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: $1.64

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$33.78

Current Price$100.58

Upside / Downside-66.4%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $283.61M

Target EV/EBITDA multipleCurrent: 17.7×

Net Debt($B)Default: $712.88M

Results

Implied Equity Value / share$101.53

Current Price$100.58

Upside / Downside+0.9%

Implied EV$5.03B

Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)

Mult \ Net Debt	-$1.29B	-$287.12M	$712.88M	$1.71B	$2.71B
13.7x	$121.89	$98.36	$74.84	$51.31	$27.79
15.7x	$135.23	$111.71	$88.18	$64.66	$41.13
17.7x	$148.58	$125.05	$101.53	$78.00	$54.48
19.7x	$161.92	$138.40	$114.87	$91.35	$67.82
21.7x	$175.27	$151.74	$128.22	$104.69	$81.16

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