BTI

BTI — Valuation Models

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

Valuation Summary

ModelIntrinsic Valuevs Price ($60.41)
DCF$9.84-83.7%
Graham Number$54.69-9.5%
Reverse DCFimplied g: 24.7%
DDM$68.80+13.9%
EV/EBITDA$60.64+0.4%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: $2.99B
Rev: 0.1% / EPS: —
Default: 9% (no SEC data)

Results

Intrinsic Value / share$9.84
Current Price$60.41
Upside / Downside-83.7%
Net Debt (used)$31.23B
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term-3.0%1.0%5.0%9.0%13.0%
7.0%$10.04$14.99$20.74$27.39$35.06
8.0%$5.69$9.67$14.29$19.64$25.78
9.0%$2.68$5.99$9.84$14.27$19.37
10.0%$0.47$3.29$6.57$10.34$14.67
11.0%$-1.23$1.23$4.07$7.34$11.09

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $4.68
Yahoo: $28.40

Results

Graham Number$54.69
Current Price$60.41
Margin of Safety-9.5%
Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

Default: 9% (no SEC data)

Results

Current Price$60.41
Implied Near-term FCF Growth24.7%
Historical Revenue Growth0.1%
Historical Earnings Growth
Base FCF (TTM)$2.99B
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

Yahoo: $3.34

Results

DDM Intrinsic Value / share$68.80
Current Price$60.41
Upside / Downside+13.9%
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: $11.76B
Current: 13.8×
Default: $31.23B

Results

Implied Equity Value / share$60.64
Current Price$60.41
Upside / Downside+0.4%
Implied EV$162.74B
Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)
Mult \ Net Debt$15.23B$23.23B$31.23B$39.23B$47.23B
9.8x$46.33$42.64$38.95$35.26$31.58
11.8x$57.17$53.48$49.79$46.11$42.42
13.8x$68.01$64.33$60.64$56.95$53.26
15.8x$78.86$75.17$71.48$67.79$64.10
17.8x$89.70$86.01$82.32$78.63$74.95