BCO — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($125.85)
DCF	$10414.08	+8175.0%
Graham Number	$26.70	-78.8%
Reverse DCF	—	implied g: 7.6%
DDM	$21.01	-83.3%
EV/EBITDA	$129.03	+2.5%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $393.95M

Near-term growth (yrs 1–5)(%)Rev: 9.1% / EPS: 86.0%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.47%

Computed WACC: 5.47%

Cost of equity (Re)10.30%(Rf 4.30% + β 1.09 × 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)53.11%

Debt weight (D/V)46.89%

Results

Intrinsic Value / share$28341.67

Current Price$125.85

Upside / Downside+22420.2%

Net Debt (used)$2.89B

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

WACC \ Near-term	78.0%	82.0%	86.0%	90.0%	94.0%
7.0%	$13640.22	$15244.17	$16995.07	$18902.81	$20977.71
8.0%	$10494.15	$11728.54	$13075.93	$14543.93	$16140.47
9.0%	$8357.28	$9340.70	$10414.08	$11583.46	$12855.16
10.0%	$6822.87	$7626.12	$8502.78	$9457.80	$10496.30
11.0%	$5675.84	$6344.44	$7074.10	$7868.90	$8733.15

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $4.69

Book Value / share($)Yahoo: $6.76

Results

Graham Number$26.70

Current Price$125.85

Margin of Safety-78.8%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.47%

Terminal growth rate(%)

Computed WACC: 5.47%

Cost of equity (Re)10.30%(Rf 4.30% + β 1.09 × 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)53.11%

Debt weight (D/V)46.89%

Results

Current Price$125.85

Implied Near-term FCF Growth-4.5%

Historical Revenue Growth9.1%

Historical Earnings Growth86.0%

Base FCF (TTM)$393.95M

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: $1.02

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$21.01

Current Price$125.85

Upside / Downside-83.3%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $882.30M

Target EV/EBITDA multipleCurrent: 9.3×

Net Debt($B)Default: $2.89B

Results

Implied Equity Value / share$129.03

Current Price$125.85

Upside / Downside+2.5%

Implied EV$8.20B

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

Mult \ Net Debt	$890.80M	$1.89B	$2.89B	$3.89B	$4.89B
5.3x	$91.86	$67.55	$43.25	$18.94	$-5.37
7.3x	$134.75	$110.44	$86.14	$61.83	$37.52
9.3x	$177.64	$153.33	$129.03	$104.72	$80.42
11.3x	$220.53	$196.23	$171.92	$147.61	$123.31
13.3x	$263.42	$239.12	$214.81	$190.50	$166.20

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