WALD — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($1.59)
DCF	$-0.22	-113.8%
Graham Number	—	—
Reverse DCF	—	implied g: 19.3%
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: $9.07M

Near-term growth (yrs 1–5)(%)Rev: 0.5% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 0.91%

Computed WACC: 0.91%

Cost of equity (Re)1.80%(Rf 4.30% + β -0.45 × 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)50.51%

Debt weight (D/V)49.49%

Results

Intrinsic Value / share—

Current Price$1.59

Upside / Downside—

Net Debt (used)$184.11M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-0.21	$0.08	$0.41	$0.80	$1.24
8.0%	$-0.46	$-0.23	$0.04	$0.35	$0.70
9.0%	$-0.63	$-0.44	$-0.22	$0.04	$0.33
10.0%	$-0.76	$-0.60	$-0.41	$-0.19	$0.06
11.0%	$-0.86	$-0.72	$-0.55	$-0.36	$-0.15

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-1.81

Book Value / share($)Yahoo: $4.42

Results

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

Graham Number—

Current Price$1.59

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 0.91%

Terminal growth rate(%)

Computed WACC: 0.91%

Cost of equity (Re)1.80%(Rf 4.30% + β -0.45 × 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)50.51%

Debt weight (D/V)49.49%

Results

Current Price$1.59

Implied Near-term FCF Growth65.0%

Historical Revenue Growth0.5%

Historical Earnings Growth—

Base FCF (TTM)$9.07M

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$1.59

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$4.64M

Target EV/EBITDA multipleCurrent: -89.1×

Net Debt($B)Default: $184.11M

Results

Implied Equity Value / share$2.02

Current Price$1.59

Upside / Downside+27.1%

Implied EV$413.70M

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