TAC

TAC — Valuation Models

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

Valuation Summary

ModelIntrinsic Valuevs Price ($13.81)
DCF$3.04-78.0%
Graham Number
Reverse DCFimplied g: 13.4%
DDM$4.12-70.2%
EV/EBITDA$17.21+24.6%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: $287.12M
Rev: -11.7% / EPS: —
Default: 9% (no SEC data)

Results

Intrinsic Value / share$3.04
Current Price$13.81
Upside / Downside-78.0%
Net Debt (used)$4.14B
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term-3.0%1.0%5.0%9.0%13.0%
7.0%$3.19$6.65$10.69$15.35$20.73
8.0%$0.14$2.93$6.17$9.91$14.22
9.0%$-1.97$0.35$3.04$6.15$9.72
10.0%$-3.52$-1.54$0.75$3.40$6.43
11.0%$-4.71$-2.99$-1.00$1.29$3.92

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $-0.47
Yahoo: $1.13

Results

Graham Number requires positive EPS and positive Book Value per share. EPS is zero or negative.
Graham Number
Current Price$13.81
Margin of Safety
Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

Default: 9% (no SEC data)

Results

Current Price$13.81
Implied Near-term FCF Growth13.4%
Historical Revenue Growth-11.7%
Historical Earnings Growth
Base FCF (TTM)$287.12M
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

Yahoo: $0.20

Results

DDM Intrinsic Value / share$4.12
Current Price$13.81
Upside / Downside-70.2%
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: $815.00M
Current: 11.3×
Default: $4.14B

Results

Implied Equity Value / share$17.21
Current Price$13.81
Upside / Downside+24.6%
Implied EV$9.24B
Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)
Mult \ Net Debt$2.14B$3.14B$4.14B$5.14B$6.14B
7.3x$12.96$9.59$6.22$2.85$-0.52
9.3x$18.46$15.09$11.72$8.35$4.98
11.3x$23.95$20.58$17.21$13.84$10.47
13.3x$29.45$26.08$22.70$19.33$15.96
15.3x$34.94$31.57$28.20$24.83$21.46