TOVX — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($0.18)
DCF	$-2.46	-1440.3%
Graham Number	$5.51	+2903.7%
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: -$5.27M

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

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.02%

Computed WACC: 5.02%

Cost of equity (Re)7.13%(Rf 4.30% + β 0.52 × 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)70.31%

Debt weight (D/V)29.69%

Results

Intrinsic Value / share$-6.60

Current Price$0.18

Upside / Downside-3700.3%

Net Debt (used)-$4.77M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-2.48	$-3.01	$-3.62	$-4.33	$-5.15
8.0%	$-2.01	$-2.44	$-2.93	$-3.50	$-4.16
9.0%	$-1.69	$-2.05	$-2.46	$-2.93	$-3.48
10.0%	$-1.46	$-1.76	$-2.11	$-2.51	$-2.97
11.0%	$-1.27	$-1.54	$-1.84	$-2.19	$-2.59

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.06

Book Value / share($)Yahoo: $0.65

Results

Graham Number$5.51

Current Price$0.18

Margin of Safety+2903.7%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.02%

Terminal growth rate(%)

Computed WACC: 5.02%

Cost of equity (Re)7.13%(Rf 4.30% + β 0.52 × 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)70.31%

Debt weight (D/V)29.69%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$0.18

Implied Near-term FCF Growth—

Historical Revenue Growth—

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$0.18

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$16.47M

Target EV/EBITDA multipleCurrent: -0.1×

Net Debt($B)Default: -$4.77M

Results

Implied Equity Value / share$0.19

Current Price$0.18

Upside / Downside+2.6%

Implied EV$1.94M

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