XELB — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($1.45)
DCF	$-9.66	-766.3%
Graham Number	—	—
Reverse DCF	—	—
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: -$2.29M

Near-term growth (yrs 1–5)(%)Rev: -41.5% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 11.93%

Computed WACC: 11.93%

Cost of equity (Re)9.59%(Rf 4.30% + β 0.96 × ERP 5.50%)

Cost of debt (Rd)16.49%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)31.83%

Debt weight (D/V)68.17%

Results

Intrinsic Value / share$-7.52

Current Price$1.45

Upside / Downside-618.8%

Net Debt (used)$16.81M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-9.72	$-11.11	$-12.72	$-14.59	$-16.75
8.0%	$-8.50	$-9.62	$-10.91	$-12.42	$-14.14
9.0%	$-7.65	$-8.58	$-9.66	$-10.91	$-12.34
10.0%	$-7.03	$-7.82	$-8.74	$-9.80	$-11.02
11.0%	$-6.55	$-7.24	$-8.04	$-8.96	$-10.01

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-8.08

Book Value / share($)Yahoo: $3.89

Results

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

Graham Number—

Current Price$1.45

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 11.93%

Terminal growth rate(%)

Computed WACC: 11.93%

Cost of equity (Re)9.59%(Rf 4.30% + β 0.96 × ERP 5.50%)

Cost of debt (Rd)16.49%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)31.83%

Debt weight (D/V)68.17%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$1.45

Implied Near-term FCF Growth—

Historical Revenue Growth-41.5%

Historical Earnings Growth—

Base FCF (TTM)-$2.29M

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$1.45

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$4.22M

Target EV/EBITDA multipleCurrent: -5.3×

Net Debt($B)Default: $16.81M

Results

Implied Equity Value / share$0.95

Current Price$1.45

Upside / Downside-34.8%

Implied EV$22.38M

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