BURL — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($304.15)
DCF	$-333.54	-209.7%
Graham Number	$69.43	-77.2%
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$303.23	-0.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$459.27M

Near-term growth (yrs 1–5)(%)Rev: 7.1% / EPS: 16.4%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 10.58%

Computed WACC: 10.58%

Cost of equity (Re)13.86%(Rf 4.30% + β 1.74 × 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)76.28%

Debt weight (D/V)23.72%

Results

Intrinsic Value / share$-279.47

Current Price$304.15

Upside / Downside-191.9%

Net Debt (used)$5.37B

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

WACC \ Near-term	8.4%	12.4%	16.4%	20.4%	24.4%
7.0%	$-351.08	$-400.79	$-457.88	$-523.15	$-597.47
8.0%	$-299.40	$-338.90	$-384.23	$-436.01	$-494.92
9.0%	$-263.80	$-296.29	$-333.54	$-376.05	$-424.38
10.0%	$-237.85	$-265.24	$-296.61	$-332.38	$-373.03
11.0%	$-218.12	$-241.65	$-268.56	$-299.23	$-334.05

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $8.72

Book Value / share($)Yahoo: $24.57

Results

Graham Number$69.43

Current Price$304.15

Margin of Safety-77.2%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 10.58%

Terminal growth rate(%)

Computed WACC: 10.58%

Cost of equity (Re)13.86%(Rf 4.30% + β 1.74 × 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)76.28%

Debt weight (D/V)23.72%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$304.15

Implied Near-term FCF Growth—

Historical Revenue Growth7.1%

Historical Earnings Growth16.4%

Base FCF (TTM)-$459.27M

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$304.15

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.15B

Target EV/EBITDA multipleCurrent: 21.3×

Net Debt($B)Default: $5.37B

Results

Implied Equity Value / share$303.23

Current Price$304.15

Upside / Downside-0.3%

Implied EV$24.45B

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

Mult \ Net Debt	$3.37B	$4.37B	$5.37B	$6.37B	$7.37B
17.3x	$262.17	$246.28	$230.38	$214.49	$198.60
19.3x	$298.59	$282.70	$266.81	$250.92	$235.03
21.3x	$335.02	$319.12	$303.23	$287.34	$271.45
23.3x	$371.44	$355.55	$339.66	$323.77	$307.87
25.3x	$407.87	$391.97	$376.08	$360.19	$344.30

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