UMAC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($15.33)
DCF	$-16.37	-206.8%
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: -$5.86M

Near-term growth (yrs 1–5)(%)Rev: 39.4% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 126.35%

Computed WACC: 126.35%

Cost of equity (Re)126.61%(Rf 4.30% + β 22.24 × ERP 5.50%)

Cost of debt (Rd)9.12%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)99.78%

Debt weight (D/V)0.22%

Results

Intrinsic Value / share$1.86

Current Price$15.33

Upside / Downside-87.9%

Net Debt (used)-$79.85M

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

WACC \ Near-term	31.4%	35.4%	39.4%	43.4%	47.4%
7.0%	$-19.56	$-22.99	$-26.83	$-31.15	$-35.96
8.0%	$-14.93	$-17.61	$-20.62	$-23.98	$-27.74
9.0%	$-11.77	$-13.93	$-16.37	$-19.09	$-22.13
10.0%	$-9.48	$-11.28	$-13.29	$-15.55	$-18.07
11.0%	$-7.75	$-9.27	$-10.98	$-12.89	$-15.02

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-3.59

Book Value / share($)Yahoo: $3.36

Results

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

Graham Number—

Current Price$15.33

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 126.35%

Terminal growth rate(%)

Computed WACC: 126.35%

Cost of equity (Re)126.61%(Rf 4.30% + β 22.24 × ERP 5.50%)

Cost of debt (Rd)9.12%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)99.78%

Debt weight (D/V)0.22%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$15.33

Implied Near-term FCF Growth—

Historical Revenue Growth39.4%

Historical Earnings Growth—

Base FCF (TTM)-$5.86M

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$15.33

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$18.08M

Target EV/EBITDA multipleCurrent: -24.6×

Net Debt($B)Default: -$79.85M

Results

Implied Equity Value / share$13.75

Current Price$15.33

Upside / Downside-10.3%

Implied EV$444.14M

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