ACA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($108.62)
DCF	$16.72	-84.6%
Graham Number	$60.52	-44.3%
Reverse DCF	—	implied g: 27.6%
DDM	$4.12	-96.2%
EV/EBITDA	$108.52	-0.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $104.09M

Near-term growth (yrs 1–5)(%)Rev: 7.6% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.54%

Computed WACC: 7.54%

Cost of equity (Re)9.70%(Rf 4.30% + β 0.98 × 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)77.77%

Debt weight (D/V)22.23%

Results

Intrinsic Value / share$29.80

Current Price$108.62

Upside / Downside-72.6%

Net Debt (used)$1.31B

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

WACC \ Near-term	-0.4%	3.6%	7.6%	11.6%	15.6%
7.0%	$17.73	$26.56	$36.80	$48.62	$62.19
8.0%	$9.64	$16.72	$24.92	$34.38	$45.23
9.0%	$4.04	$9.92	$16.72	$24.55	$33.52
10.0%	$-0.07	$4.93	$10.71	$17.35	$24.96
11.0%	$-3.20	$1.13	$6.13	$11.87	$18.43

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $3.02

Book Value / share($)Yahoo: $53.91

Results

Graham Number$60.52

Current Price$108.62

Margin of Safety-44.3%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.54%

Terminal growth rate(%)

Computed WACC: 7.54%

Cost of equity (Re)9.70%(Rf 4.30% + β 0.98 × 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)77.77%

Debt weight (D/V)22.23%

Results

Current Price$108.62

Implied Near-term FCF Growth22.3%

Historical Revenue Growth7.6%

Historical Earnings Growth—

Base FCF (TTM)$104.09M

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: $0.20

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$4.12

Current Price$108.62

Upside / Downside-96.2%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $564.90M

Target EV/EBITDA multipleCurrent: 11.7×

Net Debt($B)Default: $1.31B

Results

Implied Equity Value / share$108.52

Current Price$108.62

Upside / Downside-0.1%

Implied EV$6.63B

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

Mult \ Net Debt	$1.31B	$1.31B	$1.31B	$1.31B	$1.31B
7.7x	$62.45	$62.45	$62.45	$62.45	$62.45
9.7x	$85.49	$85.49	$85.49	$85.49	$85.49
11.7x	$108.52	$108.52	$108.52	$108.52	$108.52
13.7x	$131.56	$131.56	$131.56	$131.56	$131.56
15.7x	$154.60	$154.60	$154.60	$154.60	$154.60

← Overview Financial Statements ← Companies