AMZN — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($201.15)
DCF	$59.03	-70.7%
Graham Number	$78.56	-60.9%
Reverse DCF	—	implied g: 34.6%
DDM	—	—
EV/EBITDA	$201.15	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $23.79B

Near-term growth (yrs 1–5)(%)Rev: 13.6% / EPS: 5.0%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 11.01%

Computed WACC: 11.01%

Cost of equity (Re)11.92%(Rf 4.30% + β 1.39 × 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)92.36%

Debt weight (D/V)7.64%

Results

Intrinsic Value / share$42.49

Current Price$201.15

Upside / Downside-78.9%

Net Debt (used)$55.52B

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

WACC \ Near-term	5.6%	9.6%	13.6%	17.6%	21.6%
7.0%	$62.63	$75.56	$90.47	$107.55	$127.06
8.0%	$49.68	$59.99	$71.85	$85.44	$100.94
9.0%	$40.75	$49.26	$59.03	$70.21	$82.96
10.0%	$34.24	$41.42	$49.67	$59.11	$69.85
11.0%	$29.27	$35.46	$42.56	$50.67	$59.89

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $7.16

Book Value / share($)Yahoo: $38.31

Results

Graham Number$78.56

Current Price$201.15

Margin of Safety-60.9%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 11.01%

Terminal growth rate(%)

Computed WACC: 11.01%

Cost of equity (Re)11.92%(Rf 4.30% + β 1.39 × 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)92.36%

Debt weight (D/V)7.64%

Results

Current Price$201.15

Implied Near-term FCF Growth41.2%

Historical Revenue Growth13.6%

Historical Earnings Growth5.0%

Base FCF (TTM)$23.79B

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$201.15

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $145.73B

Target EV/EBITDA multipleCurrent: 15.2×

Net Debt($B)Default: $55.52B

Results

Implied Equity Value / share$201.15

Current Price$201.15

Upside / Downside-0.0%

Implied EV$2.21T

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

Mult \ Net Debt	$27.52B	$41.52B	$55.52B	$69.52B	$83.52B
11.2x	$149.45	$148.15	$146.85	$145.54	$144.24
13.2x	$176.60	$175.30	$174.00	$172.69	$171.39
15.2x	$203.76	$202.45	$201.15	$199.84	$198.54
17.2x	$230.91	$229.60	$228.30	$226.99	$225.69
19.2x	$258.06	$256.75	$255.45	$254.14	$252.84

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