ZVRA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($8.93)
DCF	$-71504138.82	-800718339.8%
Graham Number	$5.01	-44.0%
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: -$30.06M

Near-term growth (yrs 1–5)(%)Rev: 605.4% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.31%

Computed WACC: 8.31%

Cost of equity (Re)9.35%(Rf 4.30% + β 0.92 × 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)88.91%

Debt weight (D/V)11.09%

Results

Intrinsic Value / share$-84502919.99

Current Price$8.93

Upside / Downside-946281398.9%

Net Debt (used)-$136.79M

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

WACC \ Near-term	597.4%	601.4%	605.4%	609.4%	613.4%
7.0%	$-114473300.24	$-117794026.52	$-121191373.64	$-124666659.93	$-128221218.80
8.0%	$-86429937.00	$-88937158.98	$-91502231.36	$-94126149.51	$-96809920.18
9.0%	$-67540412.60	$-69499672.23	$-71504138.82	$-73554590.19	$-75651813.07
10.0%	$-54100328.38	$-55669707.42	$-57275297.48	$-58917721.62	$-60597609.99
11.0%	$-44152401.38	$-45433203.14	$-46743557.42	$-48083972.70	$-49454963.27

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.47

Book Value / share($)Yahoo: $2.37

Results

Graham Number$5.01

Current Price$8.93

Margin of Safety-44.0%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.31%

Terminal growth rate(%)

Computed WACC: 8.31%

Cost of equity (Re)9.35%(Rf 4.30% + β 0.92 × 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)88.91%

Debt weight (D/V)11.09%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$8.93

Implied Near-term FCF Growth—

Historical Revenue Growth605.4%

Historical Earnings Growth—

Base FCF (TTM)-$30.06M

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$8.93

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$23.62M

Target EV/EBITDA multipleCurrent: -15.5×

Net Debt($B)Default: -$136.79M

Results

Implied Equity Value / share$8.93

Current Price$8.93

Upside / Downside-0.0%

Implied EV$365.94M

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