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"use client";
import { useEffect, useMemo, useState } from "react";
import { computeAdvancedDcf } from "@/lib/dcf";
import { fmtCurrency } from "@/lib/format";
import type { AdvancedDcfInputs as AdvancedDcfInputShape } from "@/lib/dcf";
const YEARS = 5;
const PRESETS: Record<string, AdvancedDcfInputShape> = {
bear: {
baseRevenue: 1_000,
revenueGrowth: [0.02, 0.02, 0.02, 0.02, 0.02],
ebitdaMargin: [0.2, 0.2, 0.2, 0.2, 0.2],
dnaPctRevenue: [0.05, 0.05, 0.05, 0.05, 0.05],
capexPctRevenue: [0.1, 0.1, 0.1, 0.1, 0.1],
nwcPctDeltaRev: [0.03, 0.03, 0.03, 0.03, 0.03],
taxRate: [0.28, 0.28, 0.28, 0.28, 0.28],
},
base: {
baseRevenue: 1_000,
revenueGrowth: [0.05, 0.05, 0.05, 0.05, 0.05],
ebitdaMargin: [0.25, 0.25, 0.25, 0.25, 0.25],
dnaPctRevenue: [0.05, 0.05, 0.05, 0.05, 0.05],
capexPctRevenue: [0.07, 0.07, 0.07, 0.07, 0.07],
nwcPctDeltaRev: [0.02, 0.02, 0.02, 0.02, 0.02],
taxRate: [0.21, 0.21, 0.21, 0.21, 0.21],
},
bull: {
baseRevenue: 1_000,
revenueGrowth: [0.1, 0.1, 0.1, 0.1, 0.1],
ebitdaMargin: [0.32, 0.32, 0.32, 0.32, 0.32],
dnaPctRevenue: [0.05, 0.05, 0.05, 0.05, 0.05],
capexPctRevenue: [0.05, 0.05, 0.05, 0.05, 0.05],
nwcPctDeltaRev: [0.015, 0.015, 0.015, 0.015, 0.015],
taxRate: [0.21, 0.21, 0.21, 0.21, 0.21],
},
};
const LABELS: Record<keyof AdvancedDcfInputShape, string> = {
baseRevenue: "Base Revenue",
revenueGrowth: "Revenue Growth",
ebitdaMargin: "EBITDA Margin",
dnaPctRevenue: "D&A % Rev",
capexPctRevenue: "CapEx % Rev",
nwcPctDeltaRev: "ΔNWC % ΔRev",
taxRate: "Tax Rate",
};
const YEAR_LABELS = ["Y1", "Y2", "Y3", "Y4", "Y5"];
type Props = {
inputs: AdvancedDcfInputShape;
onChange: (inputs: AdvancedDcfInputShape) => void;
wacc: number;
terminalGrowth: number;
sharesOutstanding: number;
equityBridge: number;
seedRevenue?: number | null;
currency: string;
};
function fmtRate(v: number) {
return `${(v * 100).toFixed(1)}%`;
}
function parseRateInput(raw: string): number | null {
const cleaned = raw.replace(/[^0-9.\-]/g, "");
const num = parseFloat(cleaned) / 100;
return Number.isFinite(num) ? num : null;
}
function fmtNumber(n: number): string {
return n.toLocaleString("en-US");
}
function parseNumber(raw: string): number {
const cleaned = raw.replace(/[^0-9.\-]/g, "");
const num = parseFloat(cleaned);
return Number.isFinite(num) ? num : 0;
}
export function AdvancedDcfPanel({
inputs,
onChange,
wacc,
terminalGrowth,
sharesOutstanding,
equityBridge,
seedRevenue,
currency,
}: Props) {
const baseRevenue = seedRevenue ?? 1_000;
const presets = useMemo<Record<string, AdvancedDcfInputShape>>(
() => ({
bear: { ...PRESETS.bear, baseRevenue },
base: { ...PRESETS.base, baseRevenue },
bull: { ...PRESETS.bull, baseRevenue },
}),
[baseRevenue]
);
const computed = useMemo(() => {
return computeAdvancedDcf(inputs, {
wacc,
terminalGrowth,
projectionYears: YEARS,
sharesOutstanding,
equityBridge,
});
}, [inputs, wacc, terminalGrowth, sharesOutstanding, equityBridge]);
const price = computed && !("error" in computed) ? computed.intrinsicValuePerShare : null;
const isInvalid = price != null && price < 0;
function applyPreset(name: string) {
const preset = presets[name];
if (preset) onChange({ ...preset });
}
function updateScalar(field: "baseRevenue", value: number) {
onChange({ ...inputs, [field]: value });
}
function updateArray(field: Exclude<keyof AdvancedDcfInputShape, "baseRevenue">, index: number, value: number) {
const next = [...inputs[field]];
next[index] = value;
onChange({ ...inputs, [field]: next });
}
const [baseRevenueText, setBaseRevenueText] = useState(fmtNumber(inputs.baseRevenue));
useEffect(() => {
setBaseRevenueText(fmtNumber(inputs.baseRevenue));
}, [inputs.baseRevenue]);
return (
<div className="psm-val-advanced-panel">
<div className="psm-val-preset-row">
{Object.keys(PRESETS).map((name) => (
<button
key={name}
className="psm-val-preset-btn"
onClick={() => applyPreset(name)}
>
{name.charAt(0).toUpperCase() + name.slice(1)}
</button>
))}
</div>
<div className="psm-val-advanced-grid">
{/* Scalar field */}
<div className="psm-val-advanced-field">
<label className="psm-val-advanced-field-label">{LABELS.baseRevenue}</label>
<input
type="text"
inputMode="numeric"
className="psm-val-advanced-input"
value={baseRevenueText}
onChange={(e) => {
const raw = e.target.value;
setBaseRevenueText(raw);
const num = parseNumber(raw);
if (num !== inputs.baseRevenue) {
updateScalar("baseRevenue", num);
}
}}
onBlur={() => setBaseRevenueText(fmtNumber(inputs.baseRevenue))}
/>
</div>
{/* Array fields with year headers */}
<div className="psm-val-advanced-table">
<div className="psm-val-advanced-table-header">
<span className="psm-val-advanced-table-corner" />
{YEAR_LABELS.map((yl) => (
<span key={yl} className="psm-val-advanced-table-year">{yl}</span>
))}
</div>
{(Object.keys(LABELS) as Array<keyof AdvancedDcfInputShape>)
.filter((key) => key !== "baseRevenue")
.map((field) => (
<div key={field} className="psm-val-advanced-table-row">
<span className="psm-val-advanced-table-label">{LABELS[field]}</span>
{inputs[field].map((value, idx) => (
<input
key={idx}
type="text"
inputMode="decimal"
className="psm-val-advanced-input"
value={fmtRate(value)}
onChange={(e) => {
const num = parseRateInput(e.target.value);
if (num !== null) updateArray(field, idx, num);
}}
/>
))}
</div>
))}
</div>
</div>
<div className="psm-val-advanced-result">
<span className="psm-val-advanced-result-label">Advanced Intrinsic Value</span>
<span className={`psm-val-advanced-result-price${isInvalid ? " invalid" : ""}`}>
{isInvalid
? "Invalid assumptions"
: price != null
? fmtCurrency(price, 2, currency)
: computed && "error" in computed
? computed.error
: "—"}
</span>
</div>
</div>
);
}
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