USAR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($20.87)
DCF	$-0.63	-103.0%
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: -$22.39M

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

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 10.26%

Computed WACC: 10.26%

Cost of equity (Re)10.27%(Rf 4.30% + β 1.08 × 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)99.97%

Debt weight (D/V)0.03%

Results

Intrinsic Value / share$-0.33

Current Price$20.87

Upside / Downside-101.6%

Net Debt (used)-$256.30M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-0.64	$-1.01	$-1.44	$-1.93	$-2.50
8.0%	$-0.32	$-0.62	$-0.96	$-1.36	$-1.81
9.0%	$-0.10	$-0.34	$-0.63	$-0.96	$-1.34
10.0%	$0.07	$-0.14	$-0.38	$-0.67	$-0.99
11.0%	$0.20	$0.01	$-0.20	$-0.44	$-0.72

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-2.23

Book Value / share($)Yahoo: $-0.53

Results

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

Graham Number—

Current Price$20.87

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 10.26%

Terminal growth rate(%)

Computed WACC: 10.26%

Cost of equity (Re)10.27%(Rf 4.30% + β 1.08 × 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)99.97%

Debt weight (D/V)0.03%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$20.87

Implied Near-term FCF Growth—

Historical Revenue Growth—

Historical Earnings Growth—

Base FCF (TTM)-$22.39M

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$20.87

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$39.05M

Target EV/EBITDA multipleCurrent: -64.7×

Net Debt($B)Default: -$256.30M

Results

Implied Equity Value / share$12.77

Current Price$20.87

Upside / Downside-38.8%

Implied EV$2.53B

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