TNON — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($0.77)
DCF	$-50.36	-6668.8%
Graham Number	$5.14	+569.8%
Reverse DCF	—	—
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: -$6.87M

Near-term growth (yrs 1–5)(%)Rev: 32.2% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 10.92%

Computed WACC: 10.92%

Cost of equity (Re)11.20%(Rf 4.30% + β 1.25 × 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)97.53%

Debt weight (D/V)2.47%

Results

Intrinsic Value / share$-36.40

Current Price$0.77

Upside / Downside-4847.2%

Net Debt (used)-$3.23M

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

WACC \ Near-term	24.2%	28.2%	32.2%	36.2%	40.2%
7.0%	$-57.67	$-67.32	$-78.24	$-90.54	$-104.35
8.0%	$-45.55	$-53.13	$-61.69	$-71.34	$-82.17
9.0%	$-37.25	$-43.40	$-50.36	$-58.20	$-66.99
10.0%	$-31.23	$-36.36	$-42.15	$-48.67	$-55.99
11.0%	$-26.69	$-31.04	$-35.96	$-41.49	$-47.69

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $5.86

Book Value / share($)Yahoo: $0.20

Results

Graham Number$5.14

Current Price$0.77

Margin of Safety+569.8%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 10.92%

Terminal growth rate(%)

Computed WACC: 10.92%

Cost of equity (Re)11.20%(Rf 4.30% + β 1.25 × 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)97.53%

Debt weight (D/V)2.47%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$0.77

Implied Near-term FCF Growth—

Historical Revenue Growth32.2%

Historical Earnings Growth—

Base FCF (TTM)-$6.87M

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$0.77

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$12.04M

Target EV/EBITDA multipleCurrent: -0.6×

Net Debt($B)Default: -$3.23M

Results

Implied Equity Value / share$0.90

Current Price$0.77

Upside / Downside+17.3%

Implied EV$6.76M

← Overview Financial Statements ← Companies