TULP — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($4.00)
DCF	$-43.39	-1184.7%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$4.73	+18.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: —

Near-term growth (yrs 1–5)(%)Rev: 8.8% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 1.71%

Computed WACC: 1.71%

Cost of equity (Re)20.48%(Rf 4.30% + β 2.94 × 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)8.33%

Debt weight (D/V)91.67%

Results

Intrinsic Value / share—

Current Price$4.00

Upside / Downside—

Net Debt (used)$81.84M

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

WACC \ Near-term	0.8%	4.8%	8.8%	12.8%	16.8%
7.0%	$-43.39	$-43.39	$-43.39	$-43.39	$-43.39
8.0%	$-43.39	$-43.39	$-43.39	$-43.39	$-43.39
9.0%	$-43.39	$-43.39	$-43.39	$-43.39	$-43.39
10.0%	$-43.39	$-43.39	$-43.39	$-43.39	$-43.39
11.0%	$-43.39	$-43.39	$-43.39	$-43.39	$-43.39

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.38

Book Value / share($)Yahoo: $4.01

Results

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

Graham Number—

Current Price$4.00

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 1.71%

Terminal growth rate(%)

Computed WACC: 1.71%

Cost of equity (Re)20.48%(Rf 4.30% + β 2.94 × 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)8.33%

Debt weight (D/V)91.67%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$4.00

Implied Near-term FCF Growth—

Historical Revenue Growth8.8%

Historical Earnings Growth—

Base FCF (TTM)—

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$4.00

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $11.36M

Target EV/EBITDA multipleCurrent: 8.0×

Net Debt($B)Default: $81.84M

Results

Implied Equity Value / share$4.73

Current Price$4.00

Upside / Downside+18.1%

Implied EV$90.76M

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

Mult \ Net Debt	-$1.92B	-$918.16M	$81.84M	$1.08B	$2.08B
4.0x	$1040.88	$510.76	$-19.35	$-549.47	$-1079.59
6.0x	$1052.92	$522.80	$-7.31	$-537.43	$-1067.55
8.0x	$1064.96	$534.84	$4.73	$-525.39	$-1055.51
10.0x	$1077.00	$546.88	$16.77	$-513.35	$-1043.47
12.0x	$1089.04	$558.92	$28.81	$-501.31	$-1031.43

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