TRC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($17.69)
DCF	$-19.12	-208.1%
Graham Number	$6.60	-62.7%
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: -$18.52M

Near-term growth (yrs 1–5)(%)Rev: 10.3% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.62%

Computed WACC: 6.62%

Cost of equity (Re)7.90%(Rf 4.30% + β 0.65 × 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)83.80%

Debt weight (D/V)16.20%

Results

Intrinsic Value / share$-29.26

Current Price$17.69

Upside / Downside-265.4%

Net Debt (used)$70.90M

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

WACC \ Near-term	2.3%	6.3%	10.3%	14.3%	18.3%
7.0%	$-19.72	$-23.05	$-26.91	$-31.34	$-36.42
8.0%	$-16.53	$-19.20	$-22.28	$-25.82	$-29.87
9.0%	$-14.34	$-16.54	$-19.09	$-22.01	$-25.35
10.0%	$-12.73	$-14.60	$-16.76	$-19.23	$-22.05
11.0%	$-11.50	$-13.12	$-14.98	$-17.11	$-19.54

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.11

Book Value / share($)Yahoo: $17.60

Results

Graham Number$6.60

Current Price$17.69

Margin of Safety-62.7%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.62%

Terminal growth rate(%)

Computed WACC: 6.62%

Cost of equity (Re)7.90%(Rf 4.30% + β 0.65 × 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)83.80%

Debt weight (D/V)16.20%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$17.69

Implied Near-term FCF Growth—

Historical Revenue Growth10.3%

Historical Earnings Growth—

Base FCF (TTM)-$18.52M

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$17.69

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$2.74M

Target EV/EBITDA multipleCurrent: -205.0×

Net Debt($B)Default: $70.90M

Results

Implied Equity Value / share$18.26

Current Price$17.69

Upside / Downside+3.2%

Implied EV$562.01M

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