CG — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($52.41)
DCF	$-29.90	-157.1%
Graham Number	$25.41	-51.5%
Reverse DCF	—	—
DDM	$28.84	-45.0%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: —

Near-term growth (yrs 1–5)(%)Rev: 93.9% / EPS: 70.2%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.32%

Computed WACC: 9.32%

Cost of equity (Re)15.65%(Rf 4.30% + β 2.06 × ERP 5.50%)

Cost of debt (Rd)0.89%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)57.62%

Debt weight (D/V)42.38%

Results

Intrinsic Value / share$-29.90

Current Price$52.41

Upside / Downside-157.1%

Net Debt (used)$10.69B

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

WACC \ Near-term	85.9%	89.9%	93.9%	97.9%	101.9%
7.0%	$-29.90	$-29.90	$-29.90	$-29.90	$-29.90
8.0%	$-29.90	$-29.90	$-29.90	$-29.90	$-29.90
9.0%	$-29.90	$-29.90	$-29.90	$-29.90	$-29.90
10.0%	$-29.90	$-29.90	$-29.90	$-29.90	$-29.90
11.0%	$-29.90	$-29.90	$-29.90	$-29.90	$-29.90

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.78

Book Value / share($)Yahoo: $16.12

Results

Graham Number$25.41

Current Price$52.41

Margin of Safety-51.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.32%

Terminal growth rate(%)

Computed WACC: 9.32%

Cost of equity (Re)15.65%(Rf 4.30% + β 2.06 × ERP 5.50%)

Cost of debt (Rd)0.89%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)57.62%

Debt weight (D/V)42.38%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$52.41

Implied Near-term FCF Growth—

Historical Revenue Growth93.9%

Historical Earnings Growth70.2%

Base FCF (TTM)—

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: $1.40

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$28.84

Current Price$52.41

Upside / Downside-45.0%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: $10.69B

Results

Implied Equity Value / share$-29.90

Current Price$52.41

Upside / Downside-157.1%

Implied EV$0

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