CSR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($62.61)
DCF	$46.04	-26.5%
Graham Number	$31.23	-50.1%
Reverse DCF	—	implied g: 7.5%
DDM	$63.45	+1.3%
EV/EBITDA	$70.15	+12.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $101.42M

Near-term growth (yrs 1–5)(%)Rev: 0.3% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 4.53%

Computed WACC: 4.53%

Cost of equity (Re)8.69%(Rf 4.30% + β 0.80 × 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)52.10%

Debt weight (D/V)47.90%

Results

Intrinsic Value / share$282.75

Current Price$62.61

Upside / Downside+351.6%

Net Debt (used)$1.01B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$46.95	$68.60	$93.79	$122.94	$156.52
8.0%	$27.90	$45.33	$65.57	$88.97	$115.88
9.0%	$14.70	$29.21	$46.04	$65.47	$87.79
10.0%	$5.01	$17.39	$31.72	$48.25	$67.22
11.0%	$-2.41	$8.34	$20.78	$35.10	$51.51

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.01

Book Value / share($)Yahoo: $42.91

Results

Graham Number$31.23

Current Price$62.61

Margin of Safety-50.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 4.53%

Terminal growth rate(%)

Computed WACC: 4.53%

Cost of equity (Re)8.69%(Rf 4.30% + β 0.80 × 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)52.10%

Debt weight (D/V)47.90%

Results

Current Price$62.61

Implied Near-term FCF Growth-9.7%

Historical Revenue Growth0.3%

Historical Earnings Growth—

Base FCF (TTM)$101.42M

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$62.61

Upside / Downside+1.3%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $138.25M

Target EV/EBITDA multipleCurrent: 15.8×

Net Debt($B)Default: $1.01B

Results

Implied Equity Value / share$70.15

Current Price$62.61

Upside / Downside+12.0%

Implied EV$2.19B

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

Mult \ Net Debt	$1.01B	$1.01B	$1.01B	$1.01B	$1.01B
11.8x	$37.19	$37.19	$37.19	$37.19	$37.19
13.8x	$53.67	$53.67	$53.67	$53.67	$53.67
15.8x	$70.15	$70.15	$70.15	$70.15	$70.15
17.8x	$86.64	$86.64	$86.64	$86.64	$86.64
19.8x	$103.12	$103.12	$103.12	$103.12	$103.12

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