TBHC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($1.05)
DCF	$-3.72	-454.6%
Graham Number	—	—
Reverse DCF	—	implied g: 17.3%
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: $5.86M

Near-term growth (yrs 1–5)(%)Rev: -9.6% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.05%

Computed WACC: 8.05%

Cost of equity (Re)13.85%(Rf 4.30% + β 1.74 × ERP 5.50%)

Cost of debt (Rd)9.30%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)10.89%

Debt weight (D/V)89.11%

Results

Intrinsic Value / share$-2.93

Current Price$1.05

Upside / Downside-379.1%

Net Debt (used)$186.46M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-3.68	$-2.75	$-1.66	$-0.41	$1.04
8.0%	$-4.51	$-3.75	$-2.88	$-1.87	$-0.71
9.0%	$-5.08	$-4.45	$-3.72	$-2.89	$-1.92
10.0%	$-5.49	$-4.96	$-4.34	$-3.63	$-2.81
11.0%	$-5.81	$-5.35	$-4.81	$-4.20	$-3.49

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.99

Book Value / share($)Yahoo: $-1.96

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$1.05

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.05%

Terminal growth rate(%)

Computed WACC: 8.05%

Cost of equity (Re)13.85%(Rf 4.30% + β 1.74 × ERP 5.50%)

Cost of debt (Rd)9.30%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)10.89%

Debt weight (D/V)89.11%

Results

Current Price$1.05

Implied Near-term FCF Growth14.3%

Historical Revenue Growth-9.6%

Historical Earnings Growth—

Base FCF (TTM)$5.86M

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$1.05

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$21.51M

Target EV/EBITDA multipleCurrent: -9.8×

Net Debt($B)Default: $186.46M

Results

Implied Equity Value / share$1.05

Current Price$1.05

Upside / Downside+0.0%

Implied EV$210.06M

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