TVTX — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($29.53)
DCF	$-261.17	-984.4%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$38.30M

Near-term growth (yrs 1–5)(%)Rev: 73.4% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.18%

Computed WACC: 8.18%

Cost of equity (Re)9.16%(Rf 4.30% + β 0.88 × 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)89.23%

Debt weight (D/V)10.77%

Results

Intrinsic Value / share$-312.82

Current Price$29.53

Upside / Downside-1159.3%

Net Debt (used)$5.94M

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

WACC \ Near-term	65.4%	69.4%	73.4%	77.4%	81.4%
7.0%	$-333.86	$-375.94	$-422.17	$-472.84	$-528.29
8.0%	$-258.18	$-290.66	$-326.34	$-365.45	$-408.23
9.0%	$-206.71	$-232.66	$-261.17	$-292.41	$-326.59
10.0%	$-169.70	$-190.96	$-214.32	$-239.91	$-267.90
11.0%	$-142.00	$-159.75	$-179.24	$-200.60	$-223.96

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.57

Book Value / share($)Yahoo: $1.26

Results

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

Graham Number—

Current Price$29.53

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.18%

Terminal growth rate(%)

Computed WACC: 8.18%

Cost of equity (Re)9.16%(Rf 4.30% + β 0.88 × 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)89.23%

Debt weight (D/V)10.77%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$29.53

Implied Near-term FCF Growth—

Historical Revenue Growth73.4%

Historical Earnings Growth—

Base FCF (TTM)-$38.30M

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$29.53

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$2.08M

Target EV/EBITDA multipleCurrent: -1311.8×

Net Debt($B)Default: $5.94M

Results

Implied Equity Value / share$29.53

Current Price$29.53

Upside / Downside+0.0%

Implied EV$2.73B

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