TBI — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($4.06)
DCF	$-34.03	-938.1%
Graham Number	—	—
Reverse DCF	—	—
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: -$43.37M

Near-term growth (yrs 1–5)(%)Rev: 8.3% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.21%

Computed WACC: 6.21%

Cost of equity (Re)12.51%(Rf 4.30% + β 1.49 × 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)49.64%

Debt weight (D/V)50.36%

Results

Intrinsic Value / share$-58.40

Current Price$4.06

Upside / Downside-1538.4%

Net Debt (used)$99.29M

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

WACC \ Near-term	0.3%	4.3%	8.3%	12.3%	16.3%
7.0%	$-34.92	$-41.18	$-48.44	$-56.80	$-66.40
8.0%	$-29.12	$-34.14	$-39.94	$-46.63	$-54.30
9.0%	$-25.11	$-29.27	$-34.08	$-39.61	$-45.95
10.0%	$-22.17	$-25.71	$-29.79	$-34.48	$-39.84
11.0%	$-19.93	$-22.99	$-26.52	$-30.57	$-35.19

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.61

Book Value / share($)Yahoo: $9.16

Results

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

Graham Number—

Current Price$4.06

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.21%

Terminal growth rate(%)

Computed WACC: 6.21%

Cost of equity (Re)12.51%(Rf 4.30% + β 1.49 × 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)49.64%

Debt weight (D/V)50.36%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$4.06

Implied Near-term FCF Growth—

Historical Revenue Growth8.3%

Historical Earnings Growth—

Base FCF (TTM)-$43.37M

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: —

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$4.06

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$7.79M

Target EV/EBITDA multipleCurrent: -28.8×

Net Debt($B)Default: $99.29M

Results

Implied Equity Value / share$4.15

Current Price$4.06

Upside / Downside+2.2%

Implied EV$224.05M

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