BJRI — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($36.61)
DCF	$-22.49	-161.4%
Graham Number	$22.66	-38.1%
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$36.61	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: —

Near-term growth (yrs 1–5)(%)Rev: 3.2% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.15%

Computed WACC: 7.15%

Cost of equity (Re)11.57%(Rf 4.30% + β 1.32 × 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)61.79%

Debt weight (D/V)38.21%

Results

Intrinsic Value / share$-22.49

Current Price$36.61

Upside / Downside-161.4%

Net Debt (used)$475.42M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-22.49	$-22.49	$-22.49	$-22.49	$-22.49
8.0%	$-22.49	$-22.49	$-22.49	$-22.49	$-22.49
9.0%	$-22.49	$-22.49	$-22.49	$-22.49	$-22.49
10.0%	$-22.49	$-22.49	$-22.49	$-22.49	$-22.49
11.0%	$-22.49	$-22.49	$-22.49	$-22.49	$-22.49

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.36

Book Value / share($)Yahoo: $16.78

Results

Graham Number$22.66

Current Price$36.61

Margin of Safety-38.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.15%

Terminal growth rate(%)

Computed WACC: 7.15%

Cost of equity (Re)11.57%(Rf 4.30% + β 1.32 × 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)61.79%

Debt weight (D/V)38.21%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$36.61

Implied Near-term FCF Growth—

Historical Revenue Growth3.2%

Historical Earnings Growth—

Base FCF (TTM)—

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$36.61

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $123.10M

Target EV/EBITDA multipleCurrent: 10.1×

Net Debt($B)Default: $475.42M

Results

Implied Equity Value / share$36.61

Current Price$36.61

Upside / Downside+0.0%

Implied EV$1.25B

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

Mult \ Net Debt	-$1.52B	-$524.58M	$475.42M	$1.48B	$2.48B
6.1x	$107.94	$60.63	$13.31	$-34.00	$-81.32
8.1x	$119.59	$72.28	$24.96	$-22.35	$-69.67
10.1x	$131.24	$83.93	$36.61	$-10.70	$-58.02
12.1x	$142.89	$95.57	$48.26	$0.94	$-46.37
14.1x	$154.54	$107.22	$59.91	$12.59	$-34.72

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