TBLA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($3.16)
DCF	$449.33	+14119.4%
Graham Number	$2.43	-23.1%
Reverse DCF	—	implied g: -14.2%
DDM	—	—
EV/EBITDA	$3.40	+7.5%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $156.36M

Near-term growth (yrs 1–5)(%)Rev: 6.4% / EPS: 77.1%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.54%

Computed WACC: 9.54%

Cost of equity (Re)11.51%(Rf 4.30% + β 1.31 × 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)82.85%

Debt weight (D/V)17.15%

Results

Intrinsic Value / share$403.13

Current Price$3.16

Upside / Downside+12657.4%

Net Debt (used)$73.22M

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

WACC \ Near-term	69.1%	73.1%	77.1%	81.1%	85.1%
7.0%	$579.56	$651.03	$729.39	$815.14	$908.78
8.0%	$447.57	$502.68	$563.11	$629.22	$701.41
9.0%	$357.85	$401.84	$450.07	$502.84	$560.46
10.0%	$293.36	$329.37	$368.84	$412.02	$459.16
11.0%	$245.10	$275.14	$308.06	$344.07	$383.38

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.08

Book Value / share($)Yahoo: $3.28

Results

Graham Number$2.43

Current Price$3.16

Margin of Safety-23.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.54%

Terminal growth rate(%)

Computed WACC: 9.54%

Cost of equity (Re)11.51%(Rf 4.30% + β 1.31 × 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)82.85%

Debt weight (D/V)17.15%

Results

Current Price$3.16

Implied Near-term FCF Growth-13.1%

Historical Revenue Growth6.4%

Historical Earnings Growth77.1%

Base FCF (TTM)$156.36M

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$3.16

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $141.11M

Target EV/EBITDA multipleCurrent: 6.7×

Net Debt($B)Default: $73.22M

Results

Implied Equity Value / share$3.40

Current Price$3.16

Upside / Downside+7.5%

Implied EV$950.39M

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

Mult \ Net Debt	-$1.93B	-$926.77M	$73.22M	$1.07B	$2.07B
2.7x	$8.96	$5.08	$1.21	$-2.66	$-6.54
4.7x	$10.05	$6.18	$2.30	$-1.57	$-5.44
6.7x	$11.14	$7.27	$3.40	$-0.48	$-4.35
8.7x	$12.24	$8.36	$4.49	$0.62	$-3.26
10.7x	$13.33	$9.46	$5.58	$1.71	$-2.16

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