TUSK — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($2.48)
DCF	$42.47	+1608.9%
Graham Number	—	—
Reverse DCF	—	implied g: -20.0%
DDM	—	—
EV/EBITDA	$2.48	-0.2%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $110.56M

Near-term growth (yrs 1–5)(%)Rev: -13.2% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.26%

Computed WACC: 9.26%

Cost of equity (Re)9.66%(Rf 4.30% + β 0.97 × 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)95.81%

Debt weight (D/V)4.19%

Results

Intrinsic Value / share$40.90

Current Price$2.48

Upside / Downside+1545.8%

Net Debt (used)-$105.67M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$42.81	$51.03	$60.58	$71.64	$84.38
8.0%	$35.58	$42.20	$49.88	$58.75	$68.96
9.0%	$30.58	$36.08	$42.47	$49.84	$58.31
10.0%	$26.90	$31.60	$37.03	$43.31	$50.50
11.0%	$24.08	$28.16	$32.88	$38.32	$44.54

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.76

Book Value / share($)Yahoo: $5.17

Results

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

Graham Number—

Current Price$2.48

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.26%

Terminal growth rate(%)

Computed WACC: 9.26%

Cost of equity (Re)9.66%(Rf 4.30% + β 0.97 × 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)95.81%

Debt weight (D/V)4.19%

Results

Current Price$2.48

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth-13.2%

Historical Earnings Growth—

Base FCF (TTM)$110.56M

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$2.48

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $75.55M

Target EV/EBITDA multipleCurrent: 0.2×

Net Debt($B)Default: -$105.67M

Results

Implied Equity Value / share$2.48

Current Price$2.48

Upside / Downside-0.2%

Implied EV$13.83M

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

Mult \ Net Debt	-$2.11B	-$1.11B	-$105.67M	$894.33M	$1.89B
-3.8x	$37.71	$16.96	$-3.79	$-24.54	$-45.29
-1.8x	$40.84	$20.09	$-0.66	$-21.41	$-42.15
0.2x	$43.98	$23.23	$2.48	$-18.27	$-39.02
2.2x	$47.11	$26.36	$5.61	$-15.13	$-35.88
4.2x	$50.25	$29.50	$8.75	$-12.00	$-32.75

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