TENB — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($19.71)
DCF	$55.67	+182.4%
Graham Number	—	—
Reverse DCF	—	implied g: -7.1%
DDM	—	—
EV/EBITDA	$19.05	-3.4%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $273.02M

Near-term growth (yrs 1–5)(%)Rev: 10.5% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.97%

Computed WACC: 6.97%

Cost of equity (Re)8.21%(Rf 4.30% + β 0.71 × 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)84.94%

Debt weight (D/V)15.06%

Results

Intrinsic Value / share$82.99

Current Price$19.71

Upside / Downside+321.0%

Net Debt (used)$15.00M

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

WACC \ Near-term	2.5%	6.5%	10.5%	14.5%	18.5%
7.0%	$57.98	$69.31	$82.41	$97.48	$114.73
8.0%	$47.13	$56.19	$66.64	$78.66	$92.42
9.0%	$39.63	$47.13	$55.77	$65.69	$77.03
10.0%	$34.15	$40.50	$47.82	$56.21	$65.80
11.0%	$29.97	$35.46	$41.77	$49.00	$57.25

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.30

Book Value / share($)Yahoo: $2.75

Results

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

Graham Number—

Current Price$19.71

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.97%

Terminal growth rate(%)

Computed WACC: 6.97%

Cost of equity (Re)8.21%(Rf 4.30% + β 0.71 × 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)84.94%

Debt weight (D/V)15.06%

Results

Current Price$19.71

Implied Near-term FCF Growth-12.2%

Historical Revenue Growth10.5%

Historical Earnings Growth—

Base FCF (TTM)$273.02M

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$19.71

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $32.66M

Target EV/EBITDA multipleCurrent: 69.6×

Net Debt($B)Default: $15.00M

Results

Implied Equity Value / share$19.05

Current Price$19.71

Upside / Downside-3.4%

Implied EV$2.27B

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

Mult \ Net Debt	-$1.99B	-$985.00M	$15.00M	$1.01B	$2.01B
65.6x	$34.83	$26.39	$17.95	$9.50	$1.06
67.6x	$35.38	$26.94	$18.50	$10.06	$1.61
69.6x	$35.93	$27.49	$19.05	$10.61	$2.16
71.6x	$36.49	$28.04	$19.60	$11.16	$2.72
73.6x	$37.04	$28.59	$20.15	$11.71	$3.27

← Overview Financial Statements ← Companies