TDOC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($5.09)
DCF	$20.91	+310.4%
Graham Number	—	—
Reverse DCF	—	implied g: -15.9%
DDM	—	—
EV/EBITDA	$5.19	+1.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $226.14M

Near-term growth (yrs 1–5)(%)Rev: 0.3% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.61%

Computed WACC: 7.61%

Cost of equity (Re)16.36%(Rf 4.30% + β 2.19 × 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)46.50%

Debt weight (D/V)53.50%

Results

Intrinsic Value / share$27.07

Current Price$5.09

Upside / Downside+431.3%

Net Debt (used)$259.08M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$21.10	$25.67	$30.97	$37.12	$44.19
8.0%	$17.09	$20.76	$25.03	$29.96	$35.63
9.0%	$14.31	$17.36	$20.91	$25.00	$29.71
10.0%	$12.26	$14.87	$17.89	$21.38	$25.37
11.0%	$10.70	$12.97	$15.59	$18.61	$22.06

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.26

Book Value / share($)Yahoo: $7.77

Results

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

Graham Number—

Current Price$5.09

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.61%

Terminal growth rate(%)

Computed WACC: 7.61%

Cost of equity (Re)16.36%(Rf 4.30% + β 2.19 × 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)46.50%

Debt weight (D/V)53.50%

Results

Current Price$5.09

Implied Near-term FCF Growth-18.8%

Historical Revenue Growth0.3%

Historical Earnings Growth—

Base FCF (TTM)$226.14M

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$5.09

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $33.06M

Target EV/EBITDA multipleCurrent: 35.7×

Net Debt($B)Default: $259.08M

Results

Implied Equity Value / share$5.19

Current Price$5.09

Upside / Downside+1.8%

Implied EV$1.18B

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

Mult \ Net Debt	-$1.74B	-$740.92M	$259.08M	$1.26B	$2.26B
31.7x	$15.71	$10.08	$4.44	$-1.19	$-6.83
33.7x	$16.08	$10.45	$4.81	$-0.82	$-6.46
35.7x	$16.46	$10.82	$5.19	$-0.45	$-6.08
37.7x	$16.83	$11.19	$5.56	$-0.08	$-5.71
39.7x	$17.20	$11.57	$5.93	$0.30	$-5.34

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