TEN-PF — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($27.54)
DCF	$-1640809056.00	-5957912431.2%
Graham Number	—	—
Reverse DCF	—	—
DDM	$49.03	+78.0%
EV/EBITDA	$820991057.76	+2981085803.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: —

Near-term growth (yrs 1–5)(%)Rev: -7.0% / EPS: 56.5%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Default: 9% (no SEC data)

Results

Intrinsic Value / share$-1640809056.00

Current Price$27.54

Upside / Downside-5957912431.2%

Net Debt (used)$1.64B

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

WACC \ Near-term	48.5%	52.5%	56.5%	60.5%	64.5%
7.0%	$-1640809056.00	$-1640809056.00	$-1640809056.00	$-1640809056.00	$-1640809056.00
8.0%	$-1640809056.00	$-1640809056.00	$-1640809056.00	$-1640809056.00	$-1640809056.00
9.0%	$-1640809056.00	$-1640809056.00	$-1640809056.00	$-1640809056.00	$-1640809056.00
10.0%	$-1640809056.00	$-1640809056.00	$-1640809056.00	$-1640809056.00	$-1640809056.00
11.0%	$-1640809056.00	$-1640809056.00	$-1640809056.00	$-1640809056.00	$-1640809056.00

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: —

Book Value / share($)Yahoo: $61.71

Results

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

Graham Number—

Current Price$27.54

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Default: 9% (no SEC data)

Terminal growth rate(%)

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$27.54

Implied Near-term FCF Growth—

Historical Revenue Growth-7.0%

Historical Earnings Growth56.5%

Base FCF (TTM)—

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: $2.38

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$49.03

Current Price$27.54

Upside / Downside+78.0%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $342.63M

Target EV/EBITDA multipleCurrent: 7.2×

Net Debt($B)Default: $1.64B

Results

Implied Equity Value / share$820991057.76

Current Price$27.54

Upside / Downside+2981085803.3%

Implied EV$2.46B

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

Mult \ Net Debt	$1.64B	$1.64B	$1.64B	$1.64B	$1.64B
3.2x	$-549530926.24	$-549530926.24	$-549530926.24	$-549530926.24	$-549530926.24
5.2x	$135730065.76	$135730065.76	$135730065.76	$135730065.76	$135730065.76
7.2x	$820991057.76	$820991057.76	$820991057.76	$820991057.76	$820991057.76
9.2x	$1506252049.76	$1506252049.76	$1506252049.76	$1506252049.76	$1506252049.76
11.2x	$2191513041.76	$2191513041.76	$2191513041.76	$2191513041.76	$2191513041.76

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