BXSL — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($24.19)
DCF	$2.08	-91.4%
Graham Number	$40.07	+65.6%
Reverse DCF	—	implied g: 13.3%
DDM	$63.45	+162.3%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $471.12M

Near-term growth (yrs 1–5)(%)Rev: 1.5% / EPS: -27.0%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.13%

Computed WACC: 5.13%

Cost of equity (Re)6.78%(Rf 4.30% + β 0.45 × ERP 5.50%)

Cost of debt (Rd)5.04%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)40.91%

Debt weight (D/V)59.09%

Results

Intrinsic Value / share$55.38

Current Price$24.19

Upside / Downside+128.9%

Net Debt (used)$7.79B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$2.39	$9.68	$18.17	$27.99	$39.31
8.0%	$-4.03	$1.84	$8.66	$16.54	$25.61
9.0%	$-8.48	$-3.59	$2.08	$8.63	$16.15
10.0%	$-11.75	$-7.58	$-2.75	$2.82	$9.22
11.0%	$-14.25	$-10.62	$-6.43	$-1.61	$3.92

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.65

Book Value / share($)Yahoo: $26.92

Results

Graham Number$40.07

Current Price$24.19

Margin of Safety+65.6%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.13%

Terminal growth rate(%)

Computed WACC: 5.13%

Cost of equity (Re)6.78%(Rf 4.30% + β 0.45 × ERP 5.50%)

Cost of debt (Rd)5.04%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)40.91%

Debt weight (D/V)59.09%

Results

Current Price$24.19

Implied Near-term FCF Growth-1.4%

Historical Revenue Growth1.5%

Historical Earnings Growth-27.0%

Base FCF (TTM)$471.12M

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: $3.08

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$63.45

Current Price$24.19

Upside / Downside+162.3%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: $7.79B

Results

Implied Equity Value / share$-33.69

Current Price$24.19

Upside / Downside-239.3%

Implied EV$0

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