TRDA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($11.68)
DCF	$-28.95	-347.8%
Graham Number	—	—
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: -$76.96M

Near-term growth (yrs 1–5)(%)Rev: -96.5% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 3.25%

Computed WACC: 3.25%

Cost of equity (Re)3.62%(Rf 4.30% + β -0.12 × 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)89.76%

Debt weight (D/V)10.24%

Results

Intrinsic Value / share$-303.50

Current Price$11.68

Upside / Downside-2698.5%

Net Debt (used)-$244.77M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-29.25	$-36.46	$-44.85	$-54.56	$-65.74
8.0%	$-22.91	$-28.71	$-35.45	$-43.24	$-52.21
9.0%	$-18.51	$-23.34	$-28.95	$-35.42	$-42.85
10.0%	$-15.28	$-19.40	$-24.18	$-29.68	$-36.00
11.0%	$-12.81	$-16.39	$-20.54	$-25.30	$-30.77

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-2.57

Book Value / share($)Yahoo: $8.50

Results

Graham Number requires positive EPS and positive Book Value per share. EPS is zero or negative.

Graham Number—

Current Price$11.68

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 3.25%

Terminal growth rate(%)

Computed WACC: 3.25%

Cost of equity (Re)3.62%(Rf 4.30% + β -0.12 × 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)89.76%

Debt weight (D/V)10.24%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$11.68

Implied Near-term FCF Growth—

Historical Revenue Growth-96.5%

Historical Earnings Growth—

Base FCF (TTM)-$76.96M

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$11.68

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$151.90M

Target EV/EBITDA multipleCurrent: -1.2×

Net Debt($B)Default: -$244.77M

Results

Implied Equity Value / share$11.00

Current Price$11.68

Upside / Downside-5.8%

Implied EV$175.75M

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