XOMA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($26.45)
DCF	$-377.16	-1526.0%
Graham Number	$10.98	-58.5%
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$28.07	+6.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$63.38M

Near-term growth (yrs 1–5)(%)Rev: 29.9% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.30%

Computed WACC: 6.30%

Cost of equity (Re)8.87%(Rf 4.30% + β 0.83 × 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)70.98%

Debt weight (D/V)29.02%

Results

Intrinsic Value / share$-699.40

Current Price$26.45

Upside / Downside-2744.2%

Net Debt (used)$87.18M

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

WACC \ Near-term	21.9%	25.9%	29.9%	33.9%	37.9%
7.0%	$-426.14	$-497.13	$-577.58	$-668.40	$-770.57
8.0%	$-339.23	$-395.05	$-458.27	$-529.60	$-609.82
9.0%	$-279.67	$-325.09	$-376.52	$-434.52	$-499.71
10.0%	$-236.46	$-274.37	$-317.25	$-365.59	$-419.91
11.0%	$-203.81	$-236.04	$-272.48	$-313.54	$-359.66

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.75

Book Value / share($)Yahoo: $7.14

Results

Graham Number$10.98

Current Price$26.45

Margin of Safety-58.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.30%

Terminal growth rate(%)

Computed WACC: 6.30%

Cost of equity (Re)8.87%(Rf 4.30% + β 0.83 × 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)70.98%

Debt weight (D/V)29.02%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$26.45

Implied Near-term FCF Growth—

Historical Revenue Growth29.9%

Historical Earnings Growth—

Base FCF (TTM)-$63.38M

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$26.45

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $7.84M

Target EV/EBITDA multipleCurrent: 55.4×

Net Debt($B)Default: $87.18M

Results

Implied Equity Value / share$28.07

Current Price$26.45

Upside / Downside+6.1%

Implied EV$434.78M

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

Mult \ Net Debt	-$1.91B	-$912.82M	$87.18M	$1.09B	$2.09B
51.4x	$187.05	$106.29	$25.54	$-55.22	$-135.97
53.4x	$188.31	$107.56	$26.80	$-53.95	$-134.71
55.4x	$189.58	$108.83	$28.07	$-52.68	$-133.44
57.4x	$190.85	$110.09	$29.34	$-51.42	$-132.17
59.4x	$192.11	$111.36	$30.60	$-50.15	$-130.91

← Overview Financial Statements ← Companies