TX

TX — Valuation Models

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

Valuation Summary

ModelIntrinsic Valuevs Price ($43.40)
DCF$-55.92-228.8%
Graham Number$54.88+26.5%
Reverse DCF
DDM$55.62+28.2%
EV/EBITDA$455.42+949.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: -$655.17M
Rev: -2.6% / EPS: -56.5%
Default: 9% (no SEC data)

Results

Intrinsic Value / share$-55.92
Current Price$43.40
Upside / Downside-228.8%
Net Debt (used)-$525.68M
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term-3.0%1.0%5.0%9.0%13.0%
7.0%$-56.42$-68.37$-82.27$-98.36$-116.90
8.0%$-45.90$-55.52$-66.70$-79.61$-94.47
9.0%$-38.62$-46.63$-55.92$-66.64$-78.96
10.0%$-33.27$-40.10$-48.01$-57.14$-67.61
11.0%$-29.17$-35.11$-41.97$-49.88$-58.94

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $2.20
Yahoo: $60.84

Results

Graham Number$54.88
Current Price$43.40
Margin of Safety+26.5%
Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

Default: 9% (no SEC data)

Results

Reverse DCF requires positive TTM free cash flow.
Current Price$43.40
Implied Near-term FCF Growth
Historical Revenue Growth-2.6%
Historical Earnings Growth-56.5%
Base FCF (TTM)-$655.17M
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

Yahoo: $2.70

Results

DDM Intrinsic Value / share$55.62
Current Price$43.40
Upside / Downside+28.2%
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: $1.42B
Current: 62.6×
Default: -$525.68M

Results

Implied Equity Value / share$455.42
Current Price$43.40
Upside / Downside+949.3%
Implied EV$88.88B
Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)
Mult \ Net Debt-$2.53B-$1.53B-$525.68M$474.32M$1.47B
58.6x$436.67$431.58$426.48$421.39$416.30
60.6x$451.14$446.04$440.95$435.86$430.76
62.6x$465.60$460.51$455.42$450.32$445.23
64.6x$480.07$474.98$469.88$464.79$459.69
66.6x$494.54$489.44$484.35$479.25$474.16