BRC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($92.29)
DCF	$123.99	+34.3%
Graham Number	$51.63	-44.1%
Reverse DCF	—	implied g: 15.4%
DDM	$20.19	-78.1%
EV/EBITDA	$99.79	+8.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $124.70M

Near-term growth (yrs 1–5)(%)Rev: 7.7% / EPS: 20.6%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.52%

Computed WACC: 7.52%

Cost of equity (Re)7.65%(Rf 4.30% + β 0.61 × ERP 5.50%)

Cost of debt (Rd)4.76%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)96.78%

Debt weight (D/V)3.22%

Results

Intrinsic Value / share$166.09

Current Price$92.29

Upside / Downside+80.0%

Net Debt (used)-$31.59M

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

WACC \ Near-term	12.6%	16.6%	20.6%	24.6%	28.6%
7.0%	$135.28	$159.69	$187.60	$219.38	$255.42
8.0%	$108.49	$127.82	$149.90	$175.02	$203.49
9.0%	$90.07	$105.91	$123.99	$144.54	$167.83
10.0%	$76.67	$89.97	$105.14	$122.38	$141.90
11.0%	$66.50	$77.88	$90.86	$105.59	$122.26

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $4.26

Book Value / share($)Yahoo: $27.81

Results

Graham Number$51.63

Current Price$92.29

Margin of Safety-44.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.52%

Terminal growth rate(%)

Computed WACC: 7.52%

Cost of equity (Re)7.65%(Rf 4.30% + β 0.61 × ERP 5.50%)

Cost of debt (Rd)4.76%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)96.78%

Debt weight (D/V)3.22%

Results

Current Price$92.29

Implied Near-term FCF Growth10.6%

Historical Revenue Growth7.7%

Historical Earnings Growth20.6%

Base FCF (TTM)$124.70M

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: $0.98

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$20.19

Current Price$92.29

Upside / Downside-78.1%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $312.50M

Target EV/EBITDA multipleCurrent: 13.8×

Net Debt($B)Default: -$31.59M

Results

Implied Equity Value / share$99.79

Current Price$92.29

Upside / Downside+8.1%

Implied EV$4.33B

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

Mult \ Net Debt	-$2.03B	-$1.03B	-$31.59M	$968.41M	$1.97B
9.8x	$116.96	$94.07	$71.17	$48.28	$25.38
11.8x	$131.27	$108.38	$85.48	$62.59	$39.69
13.8x	$145.58	$122.68	$99.79	$76.90	$54.00
15.8x	$159.89	$136.99	$114.10	$91.20	$68.31
17.8x	$174.20	$151.30	$128.41	$105.51	$82.62

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