ZDGE — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($3.12)
DCF	$5.89	+89.0%
Graham Number	—	—
Reverse DCF	—	implied g: -10.8%
DDM	$1.24	-60.3%
EV/EBITDA	$3.20	+2.7%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $3.01M

Near-term growth (yrs 1–5)(%)Rev: 5.8% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 11.33%

Computed WACC: 11.33%

Cost of equity (Re)11.46%(Rf 4.30% + β 1.30 × 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)98.90%

Debt weight (D/V)1.10%

Results

Intrinsic Value / share$4.69

Current Price$3.12

Upside / Downside+50.6%

Net Debt (used)-$18.04M

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

WACC \ Near-term	-2.2%	1.8%	5.8%	9.8%	13.8%
7.0%	$5.95	$6.85	$7.90	$9.12	$10.52
8.0%	$5.14	$5.87	$6.71	$7.69	$8.81
9.0%	$4.58	$5.19	$5.89	$6.70	$7.63
10.0%	$4.17	$4.69	$5.28	$5.97	$6.76
11.0%	$3.86	$4.30	$4.82	$5.42	$6.10

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.09

Book Value / share($)Yahoo: $1.99

Results

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

Graham Number—

Current Price$3.12

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 11.33%

Terminal growth rate(%)

Computed WACC: 11.33%

Cost of equity (Re)11.46%(Rf 4.30% + β 1.30 × 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)98.90%

Debt weight (D/V)1.10%

Results

Current Price$3.12

Implied Near-term FCF Growth-6.3%

Historical Revenue Growth5.8%

Historical Earnings Growth—

Base FCF (TTM)$3.01M

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: $0.06

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$1.24

Current Price$3.12

Upside / Downside-60.3%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.10M

Target EV/EBITDA multipleCurrent: 19.9×

Net Debt($B)Default: -$18.04M

Results

Implied Equity Value / share$3.20

Current Price$3.12

Upside / Downside+2.7%

Implied EV$21.90M

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

Mult \ Net Debt	-$2.02B	-$1.02B	-$18.04M	$981.96M	$1.98B
15.9x	$163.03	$82.94	$2.85	$-77.25	$-157.34
17.9x	$163.21	$83.12	$3.02	$-77.07	$-157.17
19.9x	$163.39	$83.29	$3.20	$-76.89	$-156.99
21.9x	$163.56	$83.47	$3.38	$-76.72	$-156.81
23.9x	$163.74	$83.65	$3.55	$-76.54	$-156.64

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