BC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($79.54)
DCF	$179.44	+125.6%
Graham Number	—	—
Reverse DCF	—	implied g: 4.4%
DDM	$36.26	-54.4%
EV/EBITDA	$79.54	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $422.88M

Near-term growth (yrs 1–5)(%)Rev: 15.5% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.48%

Computed WACC: 9.48%

Cost of equity (Re)11.93%(Rf 4.30% + β 1.39 × ERP 5.50%)

Cost of debt (Rd)4.97%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)69.38%

Debt weight (D/V)30.62%

Results

Intrinsic Value / share$163.68

Current Price$79.54

Upside / Downside+105.8%

Net Debt (used)$2.03B

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

WACC \ Near-term	7.5%	11.5%	15.5%	19.5%	23.5%
7.0%	$193.76	$236.12	$284.81	$340.53	$404.03
8.0%	$150.24	$183.93	$222.62	$266.85	$317.22
9.0%	$120.26	$147.99	$179.80	$216.15	$257.50
10.0%	$98.39	$121.78	$148.59	$179.20	$214.00
11.0%	$81.76	$101.86	$124.89	$151.15	$180.98

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-2.06

Book Value / share($)Yahoo: $25.05

Results

Graham Number requires positive EPS and positive Book Value per share. EPS is zero or negative.

Graham Number—

Current Price$79.54

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.48%

Terminal growth rate(%)

Computed WACC: 9.48%

Cost of equity (Re)11.93%(Rf 4.30% + β 1.39 × ERP 5.50%)

Cost of debt (Rd)4.97%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)69.38%

Debt weight (D/V)30.62%

Results

Current Price$79.54

Implied Near-term FCF Growth5.7%

Historical Revenue Growth15.5%

Historical Earnings Growth—

Base FCF (TTM)$422.88M

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: $1.76

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$36.26

Current Price$79.54

Upside / Downside-54.4%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $605.60M

Target EV/EBITDA multipleCurrent: 11.9×

Net Debt($B)Default: $2.03B

Results

Implied Equity Value / share$79.54

Current Price$79.54

Upside / Downside+0.0%

Implied EV$7.18B

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

Mult \ Net Debt	$25.20M	$1.03B	$2.03B	$3.03B	$4.03B
7.9x	$73.03	$57.61	$42.19	$26.77	$11.35
9.9x	$91.71	$76.29	$60.87	$45.45	$30.03
11.9x	$110.38	$94.96	$79.54	$64.12	$48.70
13.9x	$129.06	$113.64	$98.22	$82.80	$67.38
15.9x	$147.74	$132.32	$116.90	$101.48	$86.06

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