TGTX — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($29.40)
DCF	$-0.77	-102.6%
Graham Number	$16.29	-44.6%
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$27.07	-7.9%

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: 78.0% / EPS: -6.5%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 13.84%

Computed WACC: 13.84%

Cost of equity (Re)14.59%(Rf 4.30% + β 1.87 × 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)94.83%

Debt weight (D/V)5.17%

Results

Intrinsic Value / share$-0.77

Current Price$29.40

Upside / Downside-102.6%

Net Debt (used)$122.96M

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

WACC \ Near-term	70.0%	74.0%	78.0%	82.0%	86.0%
7.0%	$-0.77	$-0.77	$-0.77	$-0.77	$-0.77
8.0%	$-0.77	$-0.77	$-0.77	$-0.77	$-0.77
9.0%	$-0.77	$-0.77	$-0.77	$-0.77	$-0.77
10.0%	$-0.77	$-0.77	$-0.77	$-0.77	$-0.77
11.0%	$-0.77	$-0.77	$-0.77	$-0.77	$-0.77

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.77

Book Value / share($)Yahoo: $4.26

Results

Graham Number$16.29

Current Price$29.40

Margin of Safety-44.6%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 13.84%

Terminal growth rate(%)

Computed WACC: 13.84%

Cost of equity (Re)14.59%(Rf 4.30% + β 1.87 × 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)94.83%

Debt weight (D/V)5.17%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$29.40

Implied Near-term FCF Growth—

Historical Revenue Growth78.0%

Historical Earnings Growth-6.5%

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: —

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$29.40

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $123.37M

Target EV/EBITDA multipleCurrent: 35.8×

Net Debt($B)Default: $122.96M

Results

Implied Equity Value / share$27.07

Current Price$29.40

Upside / Downside-7.9%

Implied EV$4.42B

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

Mult \ Net Debt	-$1.88B	-$877.04M	$122.96M	$1.12B	$2.12B
31.8x	$36.56	$30.26	$23.97	$17.67	$11.37
33.8x	$38.12	$31.82	$25.52	$19.22	$12.92
35.8x	$39.67	$33.37	$27.07	$20.77	$14.48
37.8x	$41.23	$34.93	$28.63	$22.33	$16.03
39.8x	$42.78	$36.48	$30.18	$23.88	$17.58

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