TRT — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($4.53)
DCF	$266.83	+5790.2%
Graham Number	—	—
Reverse DCF	—	implied g: -3.9%
DDM	—	—
EV/EBITDA	$4.51	-0.5%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $2.56M

Near-term growth (yrs 1–5)(%)Rev: 81.6% / EPS: -75.5%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.42%

Computed WACC: 9.42%

Cost of equity (Re)10.26%(Rf 4.30% + β 1.08 × 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)91.79%

Debt weight (D/V)8.21%

Results

Intrinsic Value / share$244.79

Current Price$4.53

Upside / Downside+5303.8%

Net Debt (used)-$12.92M

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

WACC \ Near-term	73.6%	77.6%	81.6%	85.6%	89.6%
7.0%	$345.89	$387.22	$432.43	$481.80	$535.60
8.0%	$267.16	$299.00	$333.83	$371.85	$413.28
9.0%	$213.66	$239.05	$266.83	$297.14	$330.18
10.0%	$175.23	$195.99	$218.70	$243.48	$270.48
11.0%	$146.49	$163.79	$182.70	$203.35	$225.84

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.02

Book Value / share($)Yahoo: $3.84

Results

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

Graham Number—

Current Price$4.53

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.42%

Terminal growth rate(%)

Computed WACC: 9.42%

Cost of equity (Re)10.26%(Rf 4.30% + β 1.08 × 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)91.79%

Debt weight (D/V)8.21%

Results

Current Price$4.53

Implied Near-term FCF Growth-2.9%

Historical Revenue Growth81.6%

Historical Earnings Growth-75.5%

Base FCF (TTM)$2.56M

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$4.53

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $2.44M

Target EV/EBITDA multipleCurrent: 10.9×

Net Debt($B)Default: -$12.92M

Results

Implied Equity Value / share$4.51

Current Price$4.53

Upside / Downside-0.5%

Implied EV$26.52M

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

Mult \ Net Debt	-$2.01B	-$1.01B	-$12.92M	$987.08M	$1.99B
6.9x	$231.97	$117.68	$3.39	$-110.90	$-225.19
8.9x	$232.53	$118.24	$3.95	$-110.34	$-224.63
10.9x	$233.09	$118.80	$4.51	$-109.78	$-224.07
12.9x	$233.65	$119.35	$5.06	$-109.23	$-223.52
14.9x	$234.20	$119.91	$5.62	$-108.67	$-222.96

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