TWST — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($45.89)
DCF	$-25.58	-155.8%
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: -$47.24M

Near-term growth (yrs 1–5)(%)Rev: 16.9% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 16.23%

Computed WACC: 16.23%

Cost of equity (Re)16.88%(Rf 4.30% + β 2.29 × 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)96.14%

Debt weight (D/V)3.86%

Results

Intrinsic Value / share$-9.97

Current Price$45.89

Upside / Downside-121.7%

Net Debt (used)-$84.90M

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

WACC \ Near-term	8.9%	12.9%	16.9%	20.9%	24.9%
7.0%	$-27.61	$-33.02	$-39.22	$-46.31	$-54.37
8.0%	$-21.95	$-26.25	$-31.17	$-36.79	$-43.18
9.0%	$-18.06	$-21.59	$-25.63	$-30.24	$-35.48
10.0%	$-15.22	$-18.19	$-21.60	$-25.48	$-29.88
11.0%	$-13.06	$-15.61	$-18.53	$-21.86	$-25.63

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.27

Book Value / share($)Yahoo: $7.44

Results

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

Graham Number—

Current Price$45.89

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 16.23%

Terminal growth rate(%)

Computed WACC: 16.23%

Cost of equity (Re)16.88%(Rf 4.30% + β 2.29 × 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)96.14%

Debt weight (D/V)3.86%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$45.89

Implied Near-term FCF Growth—

Historical Revenue Growth16.9%

Historical Earnings Growth—

Base FCF (TTM)-$47.24M

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$45.89

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$112.75M

Target EV/EBITDA multipleCurrent: -24.2×

Net Debt($B)Default: -$84.90M

Results

Implied Equity Value / share$45.89

Current Price$45.89

Upside / Downside+0.0%

Implied EV$2.73B

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