XERS — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($5.93)
DCF	$-0.89	-115.0%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$6.26	+5.5%

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: 42.8% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.62%

Computed WACC: 7.62%

Cost of equity (Re)9.62%(Rf 4.30% + β 0.97 × 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)79.21%

Debt weight (D/V)20.79%

Results

Intrinsic Value / share$-0.89

Current Price$5.93

Upside / Downside-115.0%

Net Debt (used)$147.06M

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

WACC \ Near-term	34.8%	38.8%	42.8%	46.8%	50.8%
7.0%	$-0.89	$-0.89	$-0.89	$-0.89	$-0.89
8.0%	$-0.89	$-0.89	$-0.89	$-0.89	$-0.89
9.0%	$-0.89	$-0.89	$-0.89	$-0.89	$-0.89
10.0%	$-0.89	$-0.89	$-0.89	$-0.89	$-0.89
11.0%	$-0.89	$-0.89	$-0.89	$-0.89	$-0.89

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.10

Book Value / share($)Yahoo: $0.08

Results

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

Graham Number—

Current Price$5.93

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.62%

Terminal growth rate(%)

Computed WACC: 7.62%

Cost of equity (Re)9.62%(Rf 4.30% + β 0.97 × 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)79.21%

Debt weight (D/V)20.79%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$5.93

Implied Near-term FCF Growth—

Historical Revenue Growth42.8%

Historical Earnings Growth—

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: —

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$5.93

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $37.04M

Target EV/EBITDA multipleCurrent: 32.0×

Net Debt($B)Default: $147.06M

Results

Implied Equity Value / share$6.26

Current Price$5.93

Upside / Downside+5.5%

Implied EV$1.19B

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

Mult \ Net Debt	-$1.85B	-$852.94M	$147.06M	$1.15B	$2.15B
28.0x	$17.42	$11.39	$5.36	$-0.66	$-6.69
30.0x	$17.86	$11.84	$5.81	$-0.22	$-6.24
32.0x	$18.31	$12.28	$6.26	$0.23	$-5.80
34.0x	$18.76	$12.73	$6.70	$0.68	$-5.35
36.0x	$19.20	$13.18	$7.15	$1.12	$-4.90

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