TOPS

TOPS — Valuation Models

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

Valuation Summary

ModelIntrinsic Valuevs Price ($4.79)
DCF$2279298.81+47584426.4%
Graham Number$37.71+687.3%
Reverse DCFimplied g: 3.4%
DDM
EV/EBITDA$4.79+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: $17.85M
Rev: 4.1% / EPS: 290.0%
Default: 9% (no SEC data)

Results

Intrinsic Value / share$2279298.81
Current Price$4.79
Upside / Downside+47584426.4%
Net Debt (used)$262.88M
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term282.0%286.0%290.0%294.0%298.0%
7.0%$3456319.37$3641098.31$3833696.85$4034360.60$4243340.23
8.0%$2619563.64$2759606.64$2905575.98$3057657.80$3216042.09
9.0%$2054937.61$2164793.80$2279298.81$2398598.65$2522842.35
10.0%$1652419.06$1740755.35$1832829.73$1928759.59$2028664.78
11.0%$1353864.75$1426239.47$1501676.78$1580272.86$1662125.89

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $2.30
Yahoo: $27.48

Results

Graham Number$37.71
Current Price$4.79
Margin of Safety+687.3%
Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

Default: 9% (no SEC data)

Results

Current Price$4.79
Implied Near-term FCF Growth3.4%
Historical Revenue Growth4.1%
Historical Earnings Growth290.0%
Base FCF (TTM)$17.85M
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

Yahoo: —

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$4.79
Upside / Downside
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: $45.40M
Current: 6.3×
Default: $262.88M

Results

Implied Equity Value / share$4.79
Current Price$4.79
Upside / Downside+0.0%
Implied EV$285.05M
Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)
Mult \ Net Debt-$1.74B-$737.12M$262.88M$1.26B$2.26B
2.3x$397.86$181.70$-34.46$-250.62$-466.78
4.3x$417.49$201.33$-14.83$-230.99$-447.15
6.3x$437.11$220.95$4.79$-211.37$-427.53
8.3x$456.74$240.58$24.42$-191.74$-407.90
10.3x$476.36$260.20$44.04$-172.12$-388.28