BIO — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($279.59)
DCF	$212.55	-24.0%
Graham Number	$415.99	+48.8%
Reverse DCF	—	implied g: 9.8%
DDM	—	—
EV/EBITDA	$344.19	+23.1%

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: 9.61%

Computed WACC: 9.61%

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)84.49%

Debt weight (D/V)15.51%

Results

Intrinsic Value / share$194.72

Current Price$279.59

Upside / Downside-30.4%

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%	$214.31	$256.21	$304.96	$361.38	$426.36
8.0%	$177.44	$211.17	$250.34	$295.63	$347.72
9.0%	$151.89	$179.98	$212.55	$250.14	$293.35
10.0%	$133.14	$157.10	$184.84	$216.83	$253.54
11.0%	$118.78	$139.59	$163.66	$191.38	$223.15

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $27.85

Book Value / share($)Yahoo: $276.16

Results

Graham Number$415.99

Current Price$279.59

Margin of Safety+48.8%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.61%

Terminal growth rate(%)

Computed WACC: 9.61%

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)84.49%

Debt weight (D/V)15.51%

Results

Current Price$279.59

Implied Near-term FCF Growth11.5%

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$279.59

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $431.60M

Target EV/EBITDA multipleCurrent: 17.1×

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

Results

Implied Equity Value / share$344.19

Current Price$279.59

Upside / Downside+23.1%

Implied EV$7.39B

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

Mult \ Net Debt	-$2.16B	-$1.16B	-$155.90M	$844.10M	$1.84B
13.1x	$356.67	$311.06	$265.45	$219.84	$174.23
15.1x	$396.04	$350.43	$304.82	$259.21	$213.60
17.1x	$435.42	$389.80	$344.19	$298.58	$252.97
19.1x	$474.79	$429.18	$383.56	$337.95	$292.34
21.1x	$514.16	$468.55	$422.94	$377.33	$331.71

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