BHF — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($59.98)
DCF	$-231.15	-485.4%
Graham Number	$194.75	+224.7%
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$607.37M

Near-term growth (yrs 1–5)(%)Rev: -31.6% / EPS: -82.1%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.28%

Computed WACC: 5.28%

Cost of equity (Re)9.57%(Rf 4.30% + β 0.96 × ERP 5.50%)

Cost of debt (Rd)4.82%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)25.65%

Debt weight (D/V)74.35%

Results

Intrinsic Value / share$-483.80

Current Price$59.98

Upside / Downside-906.6%

Net Debt (used)$2.55B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-232.75	$-270.79	$-315.03	$-366.24	$-425.23
8.0%	$-199.29	$-229.90	$-265.46	$-306.56	$-353.84
9.0%	$-176.10	$-201.59	$-231.15	$-265.28	$-304.49
10.0%	$-159.07	$-180.82	$-206.00	$-235.04	$-268.36
11.0%	$-146.04	$-164.93	$-186.78	$-211.94	$-240.77

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $14.24

Book Value / share($)Yahoo: $118.38

Results

Graham Number$194.75

Current Price$59.98

Margin of Safety+224.7%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.28%

Terminal growth rate(%)

Computed WACC: 5.28%

Cost of equity (Re)9.57%(Rf 4.30% + β 0.96 × ERP 5.50%)

Cost of debt (Rd)4.82%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)25.65%

Debt weight (D/V)74.35%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$59.98

Implied Near-term FCF Growth—

Historical Revenue Growth-31.6%

Historical Earnings Growth-82.1%

Base FCF (TTM)-$607.37M

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$59.98

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: $2.55B

Results

Implied Equity Value / share$-44.68

Current Price$59.98

Upside / Downside-174.5%

Implied EV$0

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