TEN

TEN — Valuation Models

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

Valuation Summary

ModelIntrinsic Valuevs Price ($36.32)
DCF$-54.46-250.0%
Graham Number$66.24+82.4%
Reverse DCF
DDM$20.60-43.3%
EV/EBITDA$35.95-1.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: —
Rev: -7.0% / EPS: 56.5%
Default: 9% (no SEC data)

Results

Intrinsic Value / share$-54.46
Current Price$36.32
Upside / Downside-250.0%
Net Debt (used)$1.64B
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term48.5%52.5%56.5%60.5%64.5%
7.0%$-54.46$-54.46$-54.46$-54.46$-54.46
8.0%$-54.46$-54.46$-54.46$-54.46$-54.46
9.0%$-54.46$-54.46$-54.46$-54.46$-54.46
10.0%$-54.46$-54.46$-54.46$-54.46$-54.46
11.0%$-54.46$-54.46$-54.46$-54.46$-54.46

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $3.16
Yahoo: $61.71

Results

Graham Number$66.24
Current Price$36.32
Margin of Safety+82.4%
Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

Default: 9% (no SEC data)

Results

Reverse DCF requires positive TTM free cash flow.
Current Price$36.32
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

Yahoo: $1.00

Results

DDM Intrinsic Value / share$20.60
Current Price$36.32
Upside / Downside-43.3%
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: $342.63M
Current: 8.0×
Default: $1.64B

Results

Implied Equity Value / share$35.95
Current Price$36.32
Upside / Downside-1.0%
Implied EV$2.72B
Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)
Mult \ Net Debt$1.64B$1.64B$1.64B$1.64B$1.64B
4.0x$-9.54$-9.54$-9.54$-9.54$-9.54
6.0x$13.21$13.21$13.21$13.21$13.21
8.0x$35.95$35.95$35.95$35.95$35.95
9.9x$58.70$58.70$58.70$58.70$58.70
11.9x$81.44$81.44$81.44$81.44$81.44