TRIN — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($14.79)
DCF	$38.89	+163.0%
Graham Number	$25.83	+74.7%
Reverse DCF	—	implied g: 7.2%
DDM	$52.53	+255.2%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $120.11M

Near-term growth (yrs 1–5)(%)Rev: 17.0% / EPS: -30.5%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.73%

Computed WACC: 6.73%

Cost of equity (Re)7.81%(Rf 4.30% + β 0.64 × ERP 5.50%)

Cost of debt (Rd)7.34%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)46.19%

Debt weight (D/V)53.81%

Results

Intrinsic Value / share$72.87

Current Price$14.79

Upside / Downside+392.7%

Net Debt (used)$1.28B

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

WACC \ Near-term	9.0%	13.0%	17.0%	21.0%	25.0%
7.0%	$43.01	$54.18	$67.00	$81.65	$98.32
8.0%	$31.30	$40.18	$50.35	$61.96	$75.17
9.0%	$23.25	$30.54	$38.89	$48.42	$59.25
10.0%	$17.37	$23.51	$30.55	$38.56	$47.67
11.0%	$12.91	$18.18	$24.21	$31.08	$38.88

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.21

Book Value / share($)Yahoo: $13.42

Results

Graham Number$25.83

Current Price$14.79

Margin of Safety+74.7%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.73%

Terminal growth rate(%)

Computed WACC: 6.73%

Cost of equity (Re)7.81%(Rf 4.30% + β 0.64 × ERP 5.50%)

Cost of debt (Rd)7.34%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)46.19%

Debt weight (D/V)53.81%

Results

Current Price$14.79

Implied Near-term FCF Growth0.2%

Historical Revenue Growth17.0%

Historical Earnings Growth-30.5%

Base FCF (TTM)$120.11M

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: $2.55

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$52.53

Current Price$14.79

Upside / Downside+255.2%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: $1.28B

Results

Implied Equity Value / share$-16.97

Current Price$14.79

Upside / Downside-214.8%

Implied EV$0

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