TRAK — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($8.32)
DCF	$8.19	-1.6%
Graham Number	$4.77	-42.7%
Reverse DCF	—	implied g: 12.9%
DDM	$1.65	-80.2%
EV/EBITDA	$8.65	+4.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $4.42M

Near-term growth (yrs 1–5)(%)Rev: 6.7% / EPS: 12.6%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.99%

Computed WACC: 6.99%

Cost of equity (Re)7.01%(Rf 4.30% + β 0.49 × 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)99.73%

Debt weight (D/V)0.27%

Results

Intrinsic Value / share$11.43

Current Price$8.32

Upside / Downside+37.4%

Net Debt (used)-$28.30M

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

WACC \ Near-term	4.6%	8.6%	12.6%	16.6%	20.6%
7.0%	$8.52	$9.86	$11.41	$13.18	$15.21
8.0%	$7.20	$8.27	$9.50	$10.91	$12.52
9.0%	$6.29	$7.17	$8.19	$9.35	$10.68
10.0%	$5.62	$6.37	$7.23	$8.21	$9.33
11.0%	$5.12	$5.76	$6.50	$7.34	$8.30

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.37

Book Value / share($)Yahoo: $2.73

Results

Graham Number$4.77

Current Price$8.32

Margin of Safety-42.7%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.99%

Terminal growth rate(%)

Computed WACC: 6.99%

Cost of equity (Re)7.01%(Rf 4.30% + β 0.49 × 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)99.73%

Debt weight (D/V)0.27%

Results

Current Price$8.32

Implied Near-term FCF Growth6.4%

Historical Revenue Growth6.7%

Historical Earnings Growth12.6%

Base FCF (TTM)$4.42M

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: $0.08

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$1.65

Current Price$8.32

Upside / Downside-80.2%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $7.98M

Target EV/EBITDA multipleCurrent: 16.2×

Net Debt($B)Default: -$28.30M

Results

Implied Equity Value / share$8.65

Current Price$8.32

Upside / Downside+4.0%

Implied EV$129.16M

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

Mult \ Net Debt	-$2.03B	-$1.03B	-$28.30M	$971.70M	$1.97B
12.2x	$116.77	$61.83	$6.90	$-48.04	$-102.97
14.2x	$117.64	$62.71	$7.77	$-47.16	$-102.10
16.2x	$118.52	$63.58	$8.65	$-46.28	$-101.22
18.2x	$119.40	$64.46	$9.53	$-45.41	$-100.34
20.2x	$120.27	$65.34	$10.40	$-44.53	$-99.47

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