BIO-B — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($268.88)
DCF	$919.83	+242.1%
Graham Number	$416.06	+54.7%
Reverse DCF	—	implied g: -17.5%
DDM	—	—
EV/EBITDA	$1432.55	+432.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $256.55M

Near-term growth (yrs 1–5)(%)Rev: 3.9% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.58%

Computed WACC: 9.58%

Cost of equity (Re)10.79%(Rf 4.30% + β 1.18 × ERP 5.50%)

Cost of debt (Rd)4.06%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)83.98%

Debt weight (D/V)16.02%

Results

Intrinsic Value / share$846.15

Current Price$268.88

Upside / Downside+214.7%

Net Debt (used)-$155.90M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$927.47	$1108.80	$1319.76	$1563.92	$1845.13
8.0%	$767.91	$913.86	$1083.40	$1279.36	$1504.79
9.0%	$657.35	$778.87	$919.83	$1082.54	$1269.49
10.0%	$576.18	$679.85	$799.93	$938.35	$1097.21
11.0%	$514.04	$604.11	$708.28	$828.21	$965.69

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $27.86

Book Value / share($)Yahoo: $276.16

Results

Graham Number$416.06

Current Price$268.88

Margin of Safety+54.7%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.58%

Terminal growth rate(%)

Computed WACC: 9.58%

Cost of equity (Re)10.79%(Rf 4.30% + β 1.18 × ERP 5.50%)

Cost of debt (Rd)4.06%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)83.98%

Debt weight (D/V)16.02%

Results

Current Price$268.88

Implied Near-term FCF Growth-16.4%

Historical Revenue Growth3.9%

Historical Earnings Growth—

Base FCF (TTM)$256.55M

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$268.88

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $431.60M

Target EV/EBITDA multipleCurrent: 16.5×

Net Debt($B)Default: -$155.90M

Results

Implied Equity Value / share$1432.55

Current Price$268.88

Upside / Downside+432.8%

Implied EV$7.10B

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

Mult \ Net Debt	-$2.16B	-$1.16B	-$155.90M	$844.10M	$1.84B
12.5x	$1486.55	$1289.16	$1091.77	$894.38	$696.99
14.5x	$1656.94	$1459.55	$1262.16	$1064.77	$867.38
16.5x	$1827.33	$1629.94	$1432.55	$1235.16	$1037.77
18.5x	$1997.72	$1800.33	$1602.94	$1405.55	$1208.16
20.5x	$2168.10	$1970.71	$1773.32	$1575.93	$1378.54

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