BILL — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($44.19)
DCF	$41.14	-6.9%
Graham Number	—	—
Reverse DCF	—	implied g: 15.8%
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: $122.55M

Near-term growth (yrs 1–5)(%)Rev: 14.4% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.88%

Computed WACC: 7.88%

Cost of equity (Re)11.25%(Rf 4.30% + β 1.26 × 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)70.11%

Debt weight (D/V)29.89%

Results

Intrinsic Value / share$49.79

Current Price$44.19

Upside / Downside+12.7%

Net Debt (used)-$354.41M

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

WACC \ Near-term	6.4%	10.4%	14.4%	18.4%	22.4%
7.0%	$43.41	$50.96	$59.66	$69.62	$80.98
8.0%	$35.76	$41.78	$48.69	$56.61	$65.64
9.0%	$30.49	$35.45	$41.14	$47.65	$55.07
10.0%	$26.64	$30.83	$35.63	$41.12	$47.37
11.0%	$23.72	$27.32	$31.45	$36.16	$41.52

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.23

Book Value / share($)Yahoo: $38.08

Results

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

Graham Number—

Current Price$44.19

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.88%

Terminal growth rate(%)

Computed WACC: 7.88%

Cost of equity (Re)11.25%(Rf 4.30% + β 1.26 × 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)70.11%

Debt weight (D/V)29.89%

Results

Current Price$44.19

Implied Near-term FCF Growth12.2%

Historical Revenue Growth14.4%

Historical Earnings Growth—

Base FCF (TTM)$122.55M

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$44.19

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$2.26M

Target EV/EBITDA multipleCurrent: -1776.6×

Net Debt($B)Default: -$354.41M

Results

Implied Equity Value / share$44.19

Current Price$44.19

Upside / Downside-0.0%

Implied EV$4.02B

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