TXO — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($12.52)
DCF	$-327.73	-2717.6%
Graham Number	$10.66	-14.9%
Reverse DCF	—	—
DDM	$35.23	+181.4%
EV/EBITDA	$12.62	+0.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$135.34M

Near-term growth (yrs 1–5)(%)Rev: 41.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 3.20%

Computed WACC: 3.20%

Cost of equity (Re)4.56%(Rf 4.30% + β 0.05 × 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)70.20%

Debt weight (D/V)29.80%

Results

Intrinsic Value / share$-3873.48

Current Price$12.52

Upside / Downside-31038.3%

Net Debt (used)$281.73M

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

WACC \ Near-term	33.0%	37.0%	41.0%	45.0%	49.0%
7.0%	$-385.52	$-444.97	$-511.70	$-586.37	$-669.65
8.0%	$-303.86	$-350.30	$-402.41	$-460.70	$-525.69
9.0%	$-248.05	$-285.60	$-327.73	$-374.83	$-427.34
10.0%	$-207.70	$-238.83	$-273.74	$-312.77	$-356.26
11.0%	$-177.31	$-203.61	$-233.10	$-266.04	$-302.76

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.40

Book Value / share($)Yahoo: $12.63

Results

Graham Number$10.66

Current Price$12.52

Margin of Safety-14.9%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 3.20%

Terminal growth rate(%)

Computed WACC: 3.20%

Cost of equity (Re)4.56%(Rf 4.30% + β 0.05 × 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)70.20%

Debt weight (D/V)29.80%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$12.52

Implied Near-term FCF Growth—

Historical Revenue Growth41.0%

Historical Earnings Growth—

Base FCF (TTM)-$135.34M

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: $1.71

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$35.23

Current Price$12.52

Upside / Downside+181.4%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $124.07M

Target EV/EBITDA multipleCurrent: 7.8×

Net Debt($B)Default: $281.73M

Results

Implied Equity Value / share$12.62

Current Price$12.52

Upside / Downside+0.8%

Implied EV$973.32M

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

Mult \ Net Debt	-$1.72B	-$718.27M	$281.73M	$1.28B	$2.28B
3.8x	$40.07	$21.82	$3.57	$-14.69	$-32.94
5.8x	$44.60	$26.35	$8.09	$-10.16	$-28.41
7.8x	$49.13	$30.88	$12.62	$-5.63	$-23.88
9.8x	$53.66	$35.41	$17.15	$-1.10	$-19.35
11.8x	$58.19	$39.94	$21.68	$3.43	$-14.82

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