ABNB — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($133.26)
DCF	$241.54	+81.3%
Graham Number	$35.10	-73.7%
Reverse DCF	—	implied g: 0.5%
DDM	—	—
EV/EBITDA	$188.61	+41.5%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $3.54B

Near-term growth (yrs 1–5)(%)Rev: 12.0% / EPS: -23.7%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 10.40%

Computed WACC: 10.40%

Cost of equity (Re)10.70%(Rf 4.30% + β 1.16 × 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)97.24%

Debt weight (D/V)2.76%

Results

Intrinsic Value / share$199.33

Current Price$133.26

Upside / Downside+49.6%

Net Debt (used)-$8.74B

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

WACC \ Near-term	4.0%	8.0%	12.0%	16.0%	20.0%
7.0%	$252.04	$296.69	$348.22	$407.40	$475.07
8.0%	$208.35	$244.00	$285.08	$332.22	$386.08
9.0%	$178.20	$207.64	$241.54	$280.40	$324.75
10.0%	$156.17	$181.09	$209.75	$242.58	$280.01
11.0%	$139.38	$160.87	$185.56	$213.81	$246.00

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $4.02

Book Value / share($)Yahoo: $13.62

Results

Graham Number$35.10

Current Price$133.26

Margin of Safety-73.7%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 10.40%

Terminal growth rate(%)

Computed WACC: 10.40%

Cost of equity (Re)10.70%(Rf 4.30% + β 1.16 × 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)97.24%

Debt weight (D/V)2.76%

Results

Current Price$133.26

Implied Near-term FCF Growth3.8%

Historical Revenue Growth12.0%

Historical Earnings Growth-23.7%

Base FCF (TTM)$3.54B

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$133.26

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $2.57B

Target EV/EBITDA multipleCurrent: 27.6×

Net Debt($B)Default: -$8.74B

Results

Implied Equity Value / share$188.61

Current Price$133.26

Upside / Downside+41.5%

Implied EV$71.15B

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

Mult \ Net Debt	-$12.74B	-$10.74B	-$8.74B	-$6.74B	-$4.74B
23.6x	$173.75	$169.03	$164.30	$159.58	$154.86
25.6x	$185.90	$181.18	$176.46	$171.74	$167.01
27.6x	$198.06	$193.33	$188.61	$183.89	$179.17
29.6x	$210.21	$205.49	$200.77	$196.04	$191.32
31.6x	$222.36	$217.64	$212.92	$208.20	$203.48

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