TBPH — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($13.94)
DCF	$13.56	-2.7%
Graham Number	$7.67	-44.9%
Reverse DCF	—	implied g: 19.3%
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: $10.48M

Near-term growth (yrs 1–5)(%)Rev: 18.5% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 4.60%

Computed WACC: 4.60%

Cost of equity (Re)4.89%(Rf 4.30% + β 0.11 × 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)94.06%

Debt weight (D/V)5.94%

Results

Intrinsic Value / share$32.83

Current Price$13.94

Upside / Downside+135.6%

Net Debt (used)-$285.08M

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

WACC \ Near-term	10.5%	14.5%	18.5%	22.5%	26.5%
7.0%	$14.22	$15.80	$17.61	$19.68	$22.03
8.0%	$12.52	$13.78	$15.22	$16.85	$18.71
9.0%	$11.36	$12.39	$13.57	$14.91	$16.43
10.0%	$10.51	$11.38	$12.37	$13.50	$14.78
11.0%	$9.87	$10.61	$11.46	$12.43	$13.52

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.57

Book Value / share($)Yahoo: $4.59

Results

Graham Number$7.67

Current Price$13.94

Margin of Safety-44.9%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 4.60%

Terminal growth rate(%)

Computed WACC: 4.60%

Cost of equity (Re)4.89%(Rf 4.30% + β 0.11 × 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)94.06%

Debt weight (D/V)5.94%

Results

Current Price$13.94

Implied Near-term FCF Growth0.4%

Historical Revenue Growth18.5%

Historical Earnings Growth—

Base FCF (TTM)$10.48M

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$13.94

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$31.16M

Target EV/EBITDA multipleCurrent: -21.7×

Net Debt($B)Default: -$285.08M

Results

Implied Equity Value / share$18.95

Current Price$13.94

Upside / Downside+36.0%

Implied EV$675.17M

← Overview Financial Statements ← Companies