TH — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($7.73)
DCF	$11.85	+53.3%
Graham Number	—	—
Reverse DCF	—	implied g: -2.4%
DDM	—	—
EV/EBITDA	$7.79	+0.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $66.36M

Near-term growth (yrs 1–5)(%)Rev: 4.4% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 11.67%

Computed WACC: 11.67%

Cost of equity (Re)11.87%(Rf 4.30% + β 1.38 × 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)98.31%

Debt weight (D/V)1.69%

Results

Intrinsic Value / share$8.41

Current Price$7.73

Upside / Downside+8.8%

Net Debt (used)-$17.10M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$11.95	$14.33	$17.10	$20.31	$24.00
8.0%	$9.85	$11.77	$14.00	$16.57	$19.53
9.0%	$8.40	$10.00	$11.85	$13.98	$16.44
10.0%	$7.33	$8.70	$10.27	$12.09	$14.18
11.0%	$6.52	$7.70	$9.07	$10.64	$12.45

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.10

Book Value / share($)Yahoo: $4.03

Results

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

Graham Number—

Current Price$7.73

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 11.67%

Terminal growth rate(%)

Computed WACC: 11.67%

Cost of equity (Re)11.87%(Rf 4.30% + β 1.38 × 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)98.31%

Debt weight (D/V)1.69%

Results

Current Price$7.73

Implied Near-term FCF Growth3.4%

Historical Revenue Growth4.4%

Historical Earnings Growth—

Base FCF (TTM)$66.36M

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$7.73

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $78.77M

Target EV/EBITDA multipleCurrent: 9.6×

Net Debt($B)Default: -$17.10M

Results

Implied Equity Value / share$7.79

Current Price$7.73

Upside / Downside+0.8%

Implied EV$760.07M

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

Mult \ Net Debt	-$2.02B	-$1.02B	-$17.10M	$982.90M	$1.98B
5.6x	$24.68	$14.65	$4.63	$-5.39	$-15.41
7.6x	$26.25	$16.23	$6.21	$-3.81	$-13.83
9.6x	$27.83	$17.81	$7.79	$-2.23	$-12.26
11.6x	$29.41	$19.39	$9.37	$-0.65	$-10.68
13.6x	$30.99	$20.97	$10.95	$0.92	$-9.10

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