VTS

VTS — Valuation Models

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

Valuation Summary

ModelIntrinsic Valuevs Price ($19.56)
DCF$-3.18-116.3%
Graham Number$13.33-31.8%
Reverse DCF
DDM$43.88+124.3%
EV/EBITDA$20.54+5.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: —
Rev: 50.6% / EPS: —
Default: 9% (no SEC data)

Results

Intrinsic Value / share$-3.18
Current Price$19.56
Upside / Downside-116.3%
Net Debt (used)$123.17M
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term42.6%46.6%50.6%54.6%58.6%
7.0%$-3.18$-3.18$-3.18$-3.18$-3.18
8.0%$-3.18$-3.18$-3.18$-3.18$-3.18
9.0%$-3.18$-3.18$-3.18$-3.18$-3.18
10.0%$-3.18$-3.18$-3.18$-3.18$-3.18
11.0%$-3.18$-3.18$-3.18$-3.18$-3.18

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $0.51
Yahoo: $15.49

Results

Graham Number$13.33
Current Price$19.56
Margin of Safety-31.8%
Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

Default: 9% (no SEC data)

Results

Reverse DCF requires positive TTM free cash flow.
Current Price$19.56
Implied Near-term FCF Growth
Historical Revenue Growth50.6%
Historical Earnings Growth
Base FCF (TTM)
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

Yahoo: $2.13

Results

DDM Intrinsic Value / share$43.88
Current Price$19.56
Upside / Downside+124.3%
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: $172.20M
Current: 5.3×
Default: $123.17M

Results

Implied Equity Value / share$20.54
Current Price$19.56
Upside / Downside+5.0%
Implied EV$917.65M
Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)
Mult \ Net Debt-$1.88B-$876.83M$123.17M$1.12B$2.12B
1.3x$54.45$28.59$2.73$-23.12$-48.98
3.3x$63.35$37.50$11.64$-14.22$-40.08
5.3x$72.26$46.40$20.54$-5.31$-31.17
7.3x$81.16$55.31$29.45$3.59$-22.27
9.3x$90.07$64.21$38.35$12.50$-13.36