BBW — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($46.74)
DCF	$26.59	-43.1%
Graham Number	$33.94	-27.4%
Reverse DCF	—	implied g: 13.1%
DDM	$18.13	-61.2%
EV/EBITDA	$45.82	-2.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $24.76M

Near-term growth (yrs 1–5)(%)Rev: 2.7% / EPS: -15.1%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.51%

Computed WACC: 8.51%

Cost of equity (Re)10.15%(Rf 4.30% + β 1.06 × 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)83.84%

Debt weight (D/V)16.16%

Results

Intrinsic Value / share$29.36

Current Price$46.74

Upside / Downside-37.2%

Net Debt (used)$90.48M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$26.88	$33.73	$41.70	$50.92	$61.54
8.0%	$20.85	$26.37	$32.77	$40.17	$48.69
9.0%	$16.68	$21.27	$26.59	$32.74	$39.80
10.0%	$13.61	$17.53	$22.06	$27.29	$33.29
11.0%	$11.26	$14.67	$18.60	$23.13	$28.32

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $4.33

Book Value / share($)Yahoo: $11.83

Results

Graham Number$33.94

Current Price$46.74

Margin of Safety-27.4%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.51%

Terminal growth rate(%)

Computed WACC: 8.51%

Cost of equity (Re)10.15%(Rf 4.30% + β 1.06 × 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)83.84%

Debt weight (D/V)16.16%

Results

Current Price$46.74

Implied Near-term FCF Growth11.6%

Historical Revenue Growth2.7%

Historical Earnings Growth-15.1%

Base FCF (TTM)$24.76M

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: $0.88

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$18.13

Current Price$46.74

Upside / Downside-61.2%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $87.45M

Target EV/EBITDA multipleCurrent: 7.8×

Net Debt($B)Default: $90.48M

Results

Implied Equity Value / share$45.82

Current Price$46.74

Upside / Downside-2.0%

Implied EV$683.64M

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

Mult \ Net Debt	-$1.91B	-$909.52M	$90.48M	$1.09B	$2.09B
3.8x	$173.29	$96.04	$18.80	$-58.45	$-135.69
5.8x	$186.80	$109.55	$32.31	$-44.94	$-122.18
7.8x	$200.31	$123.06	$45.82	$-31.43	$-108.67
9.8x	$213.82	$136.57	$59.33	$-17.92	$-95.16
11.8x	$227.33	$150.09	$72.84	$-4.40	$-81.65

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