ULBI — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($5.76)
DCF	$-5.72	-199.3%
Graham Number	$4.31	-25.2%
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$5.87	+1.9%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$1.12M

Near-term growth (yrs 1–5)(%)Rev: 21.5% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.03%

Computed WACC: 7.03%

Cost of equity (Re)8.84%(Rf 4.30% + β 0.82 × ERP 5.50%)

Cost of debt (Rd)4.81%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)64.05%

Debt weight (D/V)35.95%

Results

Intrinsic Value / share$-7.27

Current Price$5.76

Upside / Downside-226.3%

Net Debt (used)$44.54M

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

WACC \ Near-term	13.5%	17.5%	21.5%	25.5%	29.5%
7.0%	$-6.02	$-6.62	$-7.31	$-8.09	$-8.98
8.0%	$-5.35	$-5.83	$-6.37	$-6.99	$-7.69
9.0%	$-4.89	$-5.28	$-5.72	$-6.23	$-6.80
10.0%	$-4.56	$-4.88	$-5.26	$-5.68	$-6.16
11.0%	$-4.30	$-4.58	$-4.90	$-5.26	$-5.67

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.10

Book Value / share($)Yahoo: $8.24

Results

Graham Number$4.31

Current Price$5.76

Margin of Safety-25.2%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.03%

Terminal growth rate(%)

Computed WACC: 7.03%

Cost of equity (Re)8.84%(Rf 4.30% + β 0.82 × ERP 5.50%)

Cost of debt (Rd)4.81%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)64.05%

Debt weight (D/V)35.95%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$5.76

Implied Near-term FCF Growth—

Historical Revenue Growth21.5%

Historical Earnings Growth—

Base FCF (TTM)-$1.12M

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$5.76

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $12.41M

Target EV/EBITDA multipleCurrent: 11.5×

Net Debt($B)Default: $44.54M

Results

Implied Equity Value / share$5.87

Current Price$5.76

Upside / Downside+1.9%

Implied EV$142.27M

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

Mult \ Net Debt	-$1.96B	-$955.46M	$44.54M	$1.04B	$2.04B
7.5x	$123.06	$62.97	$2.89	$-57.19	$-117.28
9.5x	$124.55	$64.46	$4.38	$-55.70	$-115.79
11.5x	$126.04	$65.95	$5.87	$-54.21	$-114.29
13.5x	$127.53	$67.45	$7.36	$-52.72	$-112.80
15.5x	$129.02	$68.94	$8.85	$-51.23	$-111.31

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