AMP — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($464.13)
DCF	$916.48	+97.5%
Graham Number	$231.11	-50.2%
Reverse DCF	—	implied g: -4.4%
DDM	$131.84	-71.6%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $3.57B

Near-term growth (yrs 1–5)(%)Rev: 8.6% / EPS: -1.1%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 10.38%

Computed WACC: 10.38%

Cost of equity (Re)11.29%(Rf 4.30% + β 1.27 × 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)91.96%

Debt weight (D/V)8.04%

Results

Intrinsic Value / share$761.07

Current Price$464.13

Upside / Downside+64.0%

Net Debt (used)-$6.32B

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

WACC \ Near-term	0.6%	4.6%	8.6%	12.6%	16.6%
7.0%	$940.99	$1113.17	$1312.64	$1542.57	$1806.40
8.0%	$780.73	$918.70	$1078.32	$1262.11	$1472.78
9.0%	$669.93	$784.31	$916.48	$1068.49	$1242.55
10.0%	$588.78	$685.96	$798.10	$926.93	$1074.31
11.0%	$526.82	$610.91	$707.83	$819.05	$946.15

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $33.08

Book Value / share($)Yahoo: $71.76

Results

Graham Number$231.11

Current Price$464.13

Margin of Safety-50.2%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 10.38%

Terminal growth rate(%)

Computed WACC: 10.38%

Cost of equity (Re)11.29%(Rf 4.30% + β 1.27 × 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)91.96%

Debt weight (D/V)8.04%

Results

Current Price$464.13

Implied Near-term FCF Growth-1.3%

Historical Revenue Growth8.6%

Historical Earnings Growth-1.1%

Base FCF (TTM)$3.57B

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: $6.40

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$131.84

Current Price$464.13

Upside / Downside-71.6%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: -$6.32B

Results

Implied Equity Value / share$69.27

Current Price$464.13

Upside / Downside-85.1%

Implied EV$0

← Overview Financial Statements ← Companies