WHF — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($6.72)
DCF	$-19.19	-385.5%
Graham Number	$10.51	+56.4%
Reverse DCF	—	—
DDM	$26.37	+292.4%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$7.52M

Near-term growth (yrs 1–5)(%)Rev: -22.6% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.46%

Computed WACC: 6.46%

Cost of equity (Re)7.49%(Rf 4.30% + β 0.58 × ERP 5.50%)

Cost of debt (Rd)7.54%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)32.56%

Debt weight (D/V)67.44%

Results

Intrinsic Value / share$-22.88

Current Price$6.72

Upside / Downside-440.4%

Net Debt (used)$313.99M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-19.24	$-20.40	$-21.74	$-23.30	$-25.10
8.0%	$-18.22	$-19.15	$-20.23	$-21.49	$-22.93
9.0%	$-17.51	$-18.29	$-19.19	$-20.23	$-21.42
10.0%	$-16.99	$-17.66	$-18.42	$-19.31	$-20.32
11.0%	$-16.60	$-17.17	$-17.84	$-18.60	$-19.48

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.43

Book Value / share($)Yahoo: $11.41

Results

Graham Number$10.51

Current Price$6.72

Margin of Safety+56.4%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.46%

Terminal growth rate(%)

Computed WACC: 6.46%

Cost of equity (Re)7.49%(Rf 4.30% + β 0.58 × ERP 5.50%)

Cost of debt (Rd)7.54%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)32.56%

Debt weight (D/V)67.44%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$6.72

Implied Near-term FCF Growth—

Historical Revenue Growth-22.6%

Historical Earnings Growth—

Base FCF (TTM)-$7.52M

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: $1.28

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$26.37

Current Price$6.72

Upside / Downside+292.4%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: $313.99M

Results

Implied Equity Value / share$-13.51

Current Price$6.72

Upside / Downside-301.0%

Implied EV$0

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