DAR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($53.32)
DCF	$-26.86	-150.4%
Graham Number	$16.13	-69.8%
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$54.71	+2.6%

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: 20.6% / EPS: -44.5%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.23%

Computed WACC: 7.23%

Cost of equity (Re)10.96%(Rf 4.30% + β 1.21 × 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)66.02%

Debt weight (D/V)33.98%

Results

Intrinsic Value / share$-26.86

Current Price$53.32

Upside / Downside-150.4%

Net Debt (used)$4.25B

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

WACC \ Near-term	12.6%	16.6%	20.6%	24.6%	28.6%
7.0%	$-26.86	$-26.86	$-26.86	$-26.86	$-26.86
8.0%	$-26.86	$-26.86	$-26.86	$-26.86	$-26.86
9.0%	$-26.86	$-26.86	$-26.86	$-26.86	$-26.86
10.0%	$-26.86	$-26.86	$-26.86	$-26.86	$-26.86
11.0%	$-26.86	$-26.86	$-26.86	$-26.86	$-26.86

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.39

Book Value / share($)Yahoo: $29.64

Results

Graham Number$16.13

Current Price$53.32

Margin of Safety-69.8%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.23%

Terminal growth rate(%)

Computed WACC: 7.23%

Cost of equity (Re)10.96%(Rf 4.30% + β 1.21 × 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)66.02%

Debt weight (D/V)33.98%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$53.32

Implied Near-term FCF Growth—

Historical Revenue Growth20.6%

Historical Earnings Growth-44.5%

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: —

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$53.32

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $905.74M

Target EV/EBITDA multipleCurrent: 14.2×

Net Debt($B)Default: $4.25B

Results

Implied Equity Value / share$54.71

Current Price$53.32

Upside / Downside+2.6%

Implied EV$12.90B

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

Mult \ Net Debt	$2.25B	$3.25B	$4.25B	$5.25B	$6.25B
10.2x	$44.45	$38.13	$31.81	$25.49	$19.16
12.2x	$55.90	$49.58	$43.26	$36.94	$30.62
14.2x	$67.35	$61.03	$54.71	$48.39	$42.07
16.2x	$78.81	$72.48	$66.16	$59.84	$53.52
18.2x	$90.26	$83.94	$77.61	$71.29	$64.97

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