TLRY — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($7.60)
DCF	$4.43	-41.7%
Graham Number	—	—
Reverse DCF	—	implied g: 13.9%
DDM	—	—
EV/EBITDA	$7.31	-3.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $31.02M

Near-term growth (yrs 1–5)(%)Rev: 3.1% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 14.40%

Computed WACC: 14.40%

Cost of equity (Re)15.90%(Rf 4.30% + β 2.11 × ERP 5.50%)

Cost of debt (Rd)12.93%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)73.48%

Debt weight (D/V)26.52%

Results

Intrinsic Value / share$2.29

Current Price$7.60

Upside / Downside-69.9%

Net Debt (used)$28.08M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$4.47	$5.43	$6.54	$7.82	$9.30
8.0%	$3.63	$4.40	$5.29	$6.32	$7.51
9.0%	$3.05	$3.69	$4.43	$5.29	$6.27
10.0%	$2.63	$3.17	$3.80	$4.53	$5.37
11.0%	$2.30	$2.77	$3.32	$3.95	$4.67

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-23.53

Book Value / share($)Yahoo: $14.89

Results

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

Graham Number—

Current Price$7.60

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 14.40%

Terminal growth rate(%)

Computed WACC: 14.40%

Cost of equity (Re)15.90%(Rf 4.30% + β 2.11 × ERP 5.50%)

Cost of debt (Rd)12.93%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)73.48%

Debt weight (D/V)26.52%

Results

Current Price$7.60

Implied Near-term FCF Growth27.2%

Historical Revenue Growth3.1%

Historical Earnings Growth—

Base FCF (TTM)$31.02M

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$7.60

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $23.17M

Target EV/EBITDA multipleCurrent: 38.0×

Net Debt($B)Default: $28.08M

Results

Implied Equity Value / share$7.31

Current Price$7.60

Upside / Downside-3.8%

Implied EV$880.20M

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

Mult \ Net Debt	-$1.97B	-$971.92M	$28.08M	$1.03B	$2.03B
34.0x	$23.68	$15.10	$6.52	$-2.06	$-10.65
36.0x	$24.08	$15.50	$6.92	$-1.67	$-10.25
38.0x	$24.48	$15.90	$7.31	$-1.27	$-9.85
40.0x	$24.88	$16.29	$7.71	$-0.87	$-9.45
42.0x	$25.28	$16.69	$8.11	$-0.47	$-9.06

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