ALL — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($214.52)
DCF	$76547.44	+35583.1%
Graham Number	$306.97	+43.1%
Reverse DCF	—	implied g: -11.9%
DDM	$88.99	-58.5%
EV/EBITDA	$221.66	+3.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $8.92B

Near-term growth (yrs 1–5)(%)Rev: 5.1% / EPS: 103.2%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 4.92%

Computed WACC: 4.92%

Cost of equity (Re)5.59%(Rf 4.30% + β 0.23 × 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)87.97%

Debt weight (D/V)12.03%

Results

Intrinsic Value / share$267340.32

Current Price$214.52

Upside / Downside+124522.6%

Net Debt (used)$2.11B

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

WACC \ Near-term	95.2%	99.2%	103.2%	107.2%	111.2%
7.0%	$102710.67	$113644.92	$125491.94	$138307.75	$152150.62
8.0%	$78852.49	$87240.74	$96328.89	$106159.88	$116778.37
9.0%	$62668.98	$69330.44	$76547.44	$84354.04	$92785.68
10.0%	$51065.14	$56488.65	$62364.20	$68719.51	$75583.41
11.0%	$42404.59	$46904.30	$51778.84	$57051.17	$62745.20

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $38.06

Book Value / share($)Yahoo: $110.03

Results

Graham Number$306.97

Current Price$214.52

Margin of Safety+43.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 4.92%

Terminal growth rate(%)

Computed WACC: 4.92%

Cost of equity (Re)5.59%(Rf 4.30% + β 0.23 × 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)87.97%

Debt weight (D/V)12.03%

Results

Current Price$214.52

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth5.1%

Historical Earnings Growth103.2%

Base FCF (TTM)$8.92B

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: $4.32

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$88.99

Current Price$214.52

Upside / Downside-58.5%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $12.49B

Target EV/EBITDA multipleCurrent: 4.8×

Net Debt($B)Default: $2.11B

Results

Implied Equity Value / share$221.66

Current Price$214.52

Upside / Downside+3.3%

Implied EV$59.76B

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

Mult \ Net Debt	$110.00M	$1.11B	$2.11B	$3.11B	$4.11B
0.8x	$37.19	$33.35	$29.50	$25.66	$21.81
2.8x	$133.27	$129.43	$125.58	$121.74	$117.89
4.8x	$229.35	$225.50	$221.66	$217.81	$213.97
6.8x	$325.43	$321.58	$317.74	$313.89	$310.05
8.8x	$421.51	$417.66	$413.82	$409.97	$406.13

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