TLS — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($4.57)
DCF	$266.55	+5732.7%
Graham Number	—	—
Reverse DCF	—	implied g: 24.7%
DDM	—	—
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $5.27M

Near-term growth (yrs 1–5)(%)Rev: 116.3% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.52%

Computed WACC: 9.52%

Cost of equity (Re)9.76%(Rf 4.30% + β 0.99 × 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)97.51%

Debt weight (D/V)2.49%

Results

Intrinsic Value / share$238.43

Current Price$4.57

Upside / Downside+5117.2%

Net Debt (used)-$50.45M

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

WACC \ Near-term	108.3%	112.3%	116.3%	120.3%	124.3%
7.0%	$362.78	$398.83	$437.71	$479.57	$524.57
8.0%	$278.08	$305.69	$335.46	$367.51	$401.96
9.0%	$220.68	$242.56	$266.16	$291.56	$318.87
10.0%	$179.56	$197.34	$216.51	$237.15	$259.34
11.0%	$148.90	$163.62	$179.49	$196.58	$214.95

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.41

Book Value / share($)Yahoo: $1.66

Results

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

Graham Number—

Current Price$4.57

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.52%

Terminal growth rate(%)

Computed WACC: 9.52%

Cost of equity (Re)9.76%(Rf 4.30% + β 0.99 × 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)97.51%

Debt weight (D/V)2.49%

Results

Current Price$4.57

Implied Near-term FCF Growth26.4%

Historical Revenue Growth116.3%

Historical Earnings Growth—

Base FCF (TTM)$5.27M

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$4.57

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$27.64M

Target EV/EBITDA multipleCurrent: -10.4×

Net Debt($B)Default: -$50.45M

Results

Implied Equity Value / share$4.57

Current Price$4.57

Upside / Downside-0.0%

Implied EV$286.60M

← Overview Financial Statements ← Companies