BALL — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($66.42)
DCF	$87.89	+32.3%
Graham Number	$38.95	-41.4%
Reverse DCF	—	implied g: 12.5%
DDM	$16.48	-75.2%
EV/EBITDA	$65.95	-0.7%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $883.50M

Near-term growth (yrs 1–5)(%)Rev: 16.2% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.74%

Computed WACC: 8.74%

Cost of equity (Re)10.56%(Rf 4.30% + β 1.14 × ERP 5.50%)

Cost of debt (Rd)5.41%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)71.03%

Debt weight (D/V)28.97%

Results

Intrinsic Value / share$93.05

Current Price$66.42

Upside / Downside+40.1%

Net Debt (used)$6.16B

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

WACC \ Near-term	8.2%	12.2%	16.2%	20.2%	24.2%
7.0%	$95.61	$117.82	$143.33	$172.50	$205.73
8.0%	$72.58	$90.23	$110.49	$133.64	$159.98
9.0%	$56.71	$71.24	$87.89	$106.89	$128.51
10.0%	$45.15	$57.39	$71.42	$87.42	$105.59
11.0%	$36.35	$46.87	$58.91	$72.63	$88.20

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $3.30

Book Value / share($)Yahoo: $20.43

Results

Graham Number$38.95

Current Price$66.42

Margin of Safety-41.4%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.74%

Terminal growth rate(%)

Computed WACC: 8.74%

Cost of equity (Re)10.56%(Rf 4.30% + β 1.14 × ERP 5.50%)

Cost of debt (Rd)5.41%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)71.03%

Debt weight (D/V)28.97%

Results

Current Price$66.42

Implied Near-term FCF Growth11.7%

Historical Revenue Growth16.2%

Historical Earnings Growth—

Base FCF (TTM)$883.50M

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: $0.80

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$16.48

Current Price$66.42

Upside / Downside-75.2%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $2.01B

Target EV/EBITDA multipleCurrent: 11.8×

Net Debt($B)Default: $6.16B

Results

Implied Equity Value / share$65.95

Current Price$66.42

Upside / Downside-0.7%

Implied EV$23.83B

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

Mult \ Net Debt	$2.16B	$4.16B	$6.16B	$8.16B	$10.16B
7.8x	$50.84	$43.38	$35.92	$28.45	$20.99
9.8x	$65.86	$58.40	$50.93	$43.47	$36.01
11.8x	$80.87	$73.41	$65.95	$58.48	$51.02
13.8x	$95.89	$88.43	$80.96	$73.50	$66.04
15.8x	$110.91	$103.44	$95.98	$88.52	$81.05

← Overview Financial Statements ← Companies