VREX — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($13.15)
DCF	$-13.15	-200.0%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$13.48	+2.5%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$15.69M

Near-term growth (yrs 1–5)(%)Rev: 4.9% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.28%

Computed WACC: 5.28%

Cost of equity (Re)9.12%(Rf 4.30% + β 0.88 × 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)57.87%

Debt weight (D/V)42.13%

Results

Intrinsic Value / share$-22.05

Current Price$13.15

Upside / Downside-267.7%

Net Debt (used)$275.70M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-13.20	$-14.54	$-16.10	$-17.91	$-19.98
8.0%	$-12.02	$-13.10	$-14.36	$-15.80	$-17.47
9.0%	$-11.21	$-12.11	$-13.15	$-14.35	$-15.73
10.0%	$-10.61	$-11.37	$-12.26	$-13.28	$-14.46
11.0%	$-10.15	$-10.81	$-11.58	$-12.47	$-13.49

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.64

Book Value / share($)Yahoo: $11.38

Results

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

Graham Number—

Current Price$13.15

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.28%

Terminal growth rate(%)

Computed WACC: 5.28%

Cost of equity (Re)9.12%(Rf 4.30% + β 0.88 × 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)57.87%

Debt weight (D/V)42.13%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$13.15

Implied Near-term FCF Growth—

Historical Revenue Growth4.9%

Historical Earnings Growth—

Base FCF (TTM)-$15.69M

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$13.15

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $97.20M

Target EV/EBITDA multipleCurrent: 8.6×

Net Debt($B)Default: $275.70M

Results

Implied Equity Value / share$13.48

Current Price$13.15

Upside / Downside+2.5%

Implied EV$840.59M

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

Mult \ Net Debt	-$1.72B	-$724.30M	$275.70M	$1.28B	$2.28B
4.6x	$51.91	$28.06	$4.20	$-19.65	$-43.51
6.6x	$56.55	$32.69	$8.84	$-15.02	$-38.87
8.6x	$61.19	$37.33	$13.48	$-10.38	$-34.24
10.6x	$65.82	$41.97	$18.11	$-5.74	$-29.60
12.6x	$70.46	$46.61	$22.75	$-1.10	$-24.96

← Overview Financial Statements ← Companies