BJ — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($99.73)
DCF	$-3.12	-103.1%
Graham Number	$40.26	-59.6%
Reverse DCF	—	implied g: 39.8%
DDM	—	—
EV/EBITDA	$99.73	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $127.82M

Near-term growth (yrs 1–5)(%)Rev: 4.9% / EPS: -1.7%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.98%

Computed WACC: 6.98%

Cost of equity (Re)6.32%(Rf 4.30% + β 0.37 × ERP 5.50%)

Cost of debt (Rd)12.88%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)82.97%

Debt weight (D/V)17.03%

Results

Intrinsic Value / share$4.71

Current Price$99.73

Upside / Downside-95.3%

Net Debt (used)$2.65B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-2.97	$0.53	$4.60	$9.31	$14.73
8.0%	$-6.05	$-3.23	$0.04	$3.82	$8.17
9.0%	$-8.18	$-5.84	$-3.12	$0.02	$3.63
10.0%	$-9.75	$-7.75	$-5.43	$-2.76	$0.30
11.0%	$-10.95	$-9.21	$-7.20	$-4.88	$-2.23

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $4.34

Book Value / share($)Yahoo: $16.60

Results

Graham Number$40.26

Current Price$99.73

Margin of Safety-59.6%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.98%

Terminal growth rate(%)

Computed WACC: 6.98%

Cost of equity (Re)6.32%(Rf 4.30% + β 0.37 × ERP 5.50%)

Cost of debt (Rd)12.88%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)82.97%

Debt weight (D/V)17.03%

Results

Current Price$99.73

Implied Near-term FCF Growth31.5%

Historical Revenue Growth4.9%

Historical Earnings Growth-1.7%

Base FCF (TTM)$127.82M

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$99.73

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.10B

Target EV/EBITDA multipleCurrent: 14.2×

Net Debt($B)Default: $2.65B

Results

Implied Equity Value / share$99.73

Current Price$99.73

Upside / Downside+0.0%

Implied EV$15.70B

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

Mult \ Net Debt	$651.99M	$1.65B	$2.65B	$3.65B	$4.65B
10.2x	$81.27	$73.63	$65.99	$58.34	$50.70
12.2x	$98.14	$90.50	$82.86	$75.22	$67.57
14.2x	$115.02	$107.37	$99.73	$92.09	$84.45
16.2x	$131.89	$124.25	$116.61	$108.96	$101.32
18.2x	$148.76	$141.12	$133.48	$125.84	$118.19

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