BSX — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($76.22)
DCF	$77.01	+1.0%
Graham Number	$26.71	-65.0%
Reverse DCF	—	implied g: 18.3%
DDM	—	—
EV/EBITDA	$77.01	+1.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $3.24B

Near-term growth (yrs 1–5)(%)Rev: 15.9% / EPS: 18.5%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.42%

Computed WACC: 7.42%

Cost of equity (Re)7.91%(Rf 4.30% + β 0.66 × ERP 5.50%)

Cost of debt (Rd)3.47%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)90.43%

Debt weight (D/V)9.57%

Results

Intrinsic Value / share$107.96

Current Price$76.22

Upside / Downside+41.6%

Net Debt (used)$10.01B

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

WACC \ Near-term	10.5%	14.5%	18.5%	22.5%	26.5%
7.0%	$83.99	$100.70	$119.86	$141.71	$166.54
8.0%	$66.12	$79.38	$94.56	$111.86	$131.51
9.0%	$53.83	$64.71	$77.16	$91.34	$107.43
10.0%	$44.87	$54.03	$64.49	$76.41	$89.92
11.0%	$38.07	$45.92	$54.89	$65.08	$76.64

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.94

Book Value / share($)Yahoo: $16.34

Results

Graham Number$26.71

Current Price$76.22

Margin of Safety-65.0%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.42%

Terminal growth rate(%)

Computed WACC: 7.42%

Cost of equity (Re)7.91%(Rf 4.30% + β 0.66 × ERP 5.50%)

Cost of debt (Rd)3.47%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)90.43%

Debt weight (D/V)9.57%

Results

Current Price$76.22

Implied Near-term FCF Growth13.1%

Historical Revenue Growth15.9%

Historical Earnings Growth18.5%

Base FCF (TTM)$3.24B

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$76.22

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $5.34B

Target EV/EBITDA multipleCurrent: 23.3×

Net Debt($B)Default: $10.01B

Results

Implied Equity Value / share$77.01

Current Price$76.22

Upside / Downside+1.0%

Implied EV$124.28B

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

Mult \ Net Debt	$4.01B	$7.01B	$10.01B	$13.01B	$16.01B
19.3x	$66.66	$64.64	$62.62	$60.60	$58.57
21.3x	$73.86	$71.84	$69.81	$67.79	$65.77
23.3x	$81.05	$79.03	$77.01	$74.99	$72.97
25.3x	$88.25	$86.23	$84.21	$82.18	$80.16
27.3x	$95.45	$93.42	$91.40	$89.38	$87.36

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