TREX — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($40.61)
DCF	$4.26	-89.5%
Graham Number	$20.12	-50.4%
Reverse DCF	—	implied g: 40.1%
DDM	—	—
EV/EBITDA	$40.10	-1.2%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $36.46M

Near-term growth (yrs 1–5)(%)Rev: -3.9% / EPS: -89.4%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 12.56%

Computed WACC: 12.56%

Cost of equity (Re)13.10%(Rf 4.30% + β 1.60 × 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)95.88%

Debt weight (D/V)4.12%

Results

Intrinsic Value / share$2.12

Current Price$40.61

Upside / Downside-94.8%

Net Debt (used)$183.53M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$4.31	$5.52	$6.94	$8.58	$10.47
8.0%	$3.24	$4.22	$5.35	$6.67	$8.18
9.0%	$2.49	$3.31	$4.26	$5.35	$6.60
10.0%	$1.95	$2.65	$3.45	$4.38	$5.45
11.0%	$1.53	$2.14	$2.84	$3.64	$4.56

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.84

Book Value / share($)Yahoo: $9.78

Results

Graham Number$20.12

Current Price$40.61

Margin of Safety-50.4%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 12.56%

Terminal growth rate(%)

Computed WACC: 12.56%

Cost of equity (Re)13.10%(Rf 4.30% + β 1.60 × 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)95.88%

Debt weight (D/V)4.12%

Results

Current Price$40.61

Implied Near-term FCF Growth51.8%

Historical Revenue Growth-3.9%

Historical Earnings Growth-89.4%

Base FCF (TTM)$36.46M

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$40.61

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $320.22M

Target EV/EBITDA multipleCurrent: 14.0×

Net Debt($B)Default: $183.53M

Results

Implied Equity Value / share$40.10

Current Price$40.61

Upside / Downside-1.2%

Implied EV$4.48B

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

Mult \ Net Debt	-$1.82B	-$816.47M	$183.53M	$1.18B	$2.18B
10.0x	$46.81	$37.49	$28.16	$18.84	$9.52
12.0x	$52.78	$43.46	$34.13	$24.81	$15.49
14.0x	$58.75	$49.43	$40.10	$30.78	$21.46
16.0x	$64.72	$55.40	$46.08	$36.75	$27.43
18.0x	$70.69	$61.37	$52.05	$42.72	$33.40

← Overview Financial Statements ← Companies