ZBAI — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($6.65)
DCF	$-2531.79	-38172.1%
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: -$859,151

Near-term growth (yrs 1–5)(%)Rev: 177.8% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 2.51%

Computed WACC: 2.51%

Cost of equity (Re)2.51%(Rf 4.30% + β -0.33 × 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)100.00%

Debt weight (D/V)0.00%

Results

Intrinsic Value / share$-2652421.70

Current Price$6.65

Upside / Downside-39886140.7%

Net Debt (used)-$9.07M

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

WACC \ Near-term	169.8%	173.8%	177.8%	181.8%	185.8%
7.0%	$-3646.07	$-3924.41	$-4219.51	$-4532.09	$-4862.92
8.0%	$-2776.02	$-2987.93	$-3212.60	$-3450.57	$-3702.44
9.0%	$-2187.75	$-2354.75	$-2531.79	$-2719.33	$-2917.81
10.0%	$-1767.46	$-1902.37	$-2045.39	$-2196.88	$-2357.22
11.0%	$-1454.98	$-1566.03	$-1683.76	$-1808.46	$-1940.44

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-5.57

Book Value / share($)Yahoo: $7.36

Results

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

Graham Number—

Current Price$6.65

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 2.51%

Terminal growth rate(%)

Computed WACC: 2.51%

Cost of equity (Re)2.51%(Rf 4.30% + β -0.33 × 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)100.00%

Debt weight (D/V)0.00%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$6.65

Implied Near-term FCF Growth—

Historical Revenue Growth177.8%

Historical Earnings Growth—

Base FCF (TTM)-$859,151

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$6.65

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$836,067

Target EV/EBITDA multipleCurrent: 0.3×

Net Debt($B)Default: -$9.07M

Results

Implied Equity Value / share$0.85

Current Price$6.65

Upside / Downside-87.2%

Implied EV-$267,541.44

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