WTBA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($24.72)
DCF	$5.45	-77.9%
Graham Number	$26.04	+5.4%
Reverse DCF	—	—
DDM	$20.60	-16.7%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: —

Near-term growth (yrs 1–5)(%)Rev: 17.4% / EPS: 3.3%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 11.16%

Computed WACC: 11.16%

Cost of equity (Re)8.80%(Rf 4.30% + β 0.82 × ERP 5.50%)

Cost of debt (Rd)17.34%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)51.69%

Debt weight (D/V)48.31%

Results

Intrinsic Value / share$5.45

Current Price$24.72

Upside / Downside-77.9%

Net Debt (used)-$92.41M

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

WACC \ Near-term	9.4%	13.4%	17.4%	21.4%	25.4%
7.0%	$5.45	$5.45	$5.45	$5.45	$5.45
8.0%	$5.45	$5.45	$5.45	$5.45	$5.45
9.0%	$5.45	$5.45	$5.45	$5.45	$5.45
10.0%	$5.45	$5.45	$5.45	$5.45	$5.45
11.0%	$5.45	$5.45	$5.45	$5.45	$5.45

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.92

Book Value / share($)Yahoo: $15.70

Results

Graham Number$26.04

Current Price$24.72

Margin of Safety+5.4%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 11.16%

Terminal growth rate(%)

Computed WACC: 11.16%

Cost of equity (Re)8.80%(Rf 4.30% + β 0.82 × ERP 5.50%)

Cost of debt (Rd)17.34%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)51.69%

Debt weight (D/V)48.31%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$24.72

Implied Near-term FCF Growth—

Historical Revenue Growth17.4%

Historical Earnings Growth3.3%

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

Annual dividend D0($/share)Yahoo: $1.00

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$20.60

Current Price$24.72

Upside / Downside-16.7%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: -$92.41M

Results

Implied Equity Value / share$5.45

Current Price$24.72

Upside / Downside-77.9%

Implied EV$0

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