XBP — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($7.43)
DCF	$32.48	+337.1%
Graham Number	—	—
Reverse DCF	—	implied g: -3.1%
DDM	—	—
EV/EBITDA	$7.43	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $44.09M

Near-term growth (yrs 1–5)(%)Rev: -10.4% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 0.36%

Computed WACC: 0.36%

Cost of equity (Re)2.12%(Rf 4.30% + β -0.40 × 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)16.98%

Debt weight (D/V)83.02%

Results

Intrinsic Value / share—

Current Price$7.43

Upside / Downside—

Net Debt (used)$392.49M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$33.04	$46.48	$62.11	$80.20	$101.04
8.0%	$21.22	$32.03	$44.60	$59.12	$75.82
9.0%	$13.03	$22.03	$32.48	$44.53	$58.38
10.0%	$7.01	$14.69	$23.59	$33.85	$45.62
11.0%	$2.41	$9.08	$16.80	$25.69	$35.87

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-2.90

Book Value / share($)Yahoo: $11.11

Results

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

Graham Number—

Current Price$7.43

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 0.36%

Terminal growth rate(%)

Computed WACC: 0.36%

Cost of equity (Re)2.12%(Rf 4.30% + β -0.40 × 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)16.98%

Debt weight (D/V)83.02%

Results

Current Price$7.43

Implied Near-term FCF Growth65.0%

Historical Revenue Growth-10.4%

Historical Earnings Growth—

Base FCF (TTM)$44.09M

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$7.43

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $13.15M

Target EV/EBITDA multipleCurrent: 36.5×

Net Debt($B)Default: $392.49M

Results

Implied Equity Value / share$7.43

Current Price$7.43

Upside / Downside-0.0%

Implied EV$479.80M

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

Mult \ Net Debt	-$1.61B	-$607.51M	$392.49M	$1.39B	$2.39B
32.5x	$173.14	$88.05	$2.95	$-82.14	$-167.24
34.5x	$175.38	$90.29	$5.19	$-79.90	$-165.00
36.5x	$177.62	$92.52	$7.43	$-77.67	$-162.76
38.5x	$179.86	$94.76	$9.67	$-75.43	$-160.52
40.5x	$182.10	$97.00	$11.91	$-73.19	$-158.28

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