DAVE — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($199.01)
DCF	$3.6668410509932167e+22	+1.8425411039612165e+22%
Graham Number	$71.15	-64.2%
Reverse DCF	—	implied g: 51.0%
DDM	—	—
EV/EBITDA	$214.10	+7.6%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $11.09M

Near-term growth (yrs 1–5)(%)Rev: 63.0% / EPS: 21033.3%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 25.46%

Computed WACC: 25.46%

Cost of equity (Re)25.76%(Rf 4.30% + β 3.90 × ERP 5.50%)

Cost of debt (Rd)18.78%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)97.27%

Debt weight (D/V)2.73%

Results

Intrinsic Value / share$2.9322102941753415e+21

Current Price$199.01

Upside / Downside+1.473398469511754e+21%

Net Debt (used)-$16.44M

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

WACC \ Near-term	21025.3%	21029.3%	21033.3%	21037.3%	21041.3%
7.0%	$6.243992373537924e+22	$6.24990600068315e+22	$6.2558241075729525e+22	$6.261746696752011e+22	$6.267673770765957e+22
8.0%	$4.698873069175226e+22	$4.703323328187651e+22	$4.707776958400724e+22	$4.7122339617294286e+22	$4.716694340089462e+22
9.0%	$3.6598197278892077e+22	$3.663285909139077e+22	$3.6667547161220646e+22	$3.670226150329698e+22	$3.6737002132540595e+22
10.0%	$2.9218467633112524e+22	$2.9246140172250997e+22	$2.92738336741428e+22	$2.9301548150695637e+22	$2.9329283613821684e+22
11.0%	$2.3766677218166126e+22	$2.378918641727162e+22	$2.3811712667750184e+22	$2.3834255979287685e+22	$2.385681636157365e+22

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $10.43

Book Value / share($)Yahoo: $21.57

Results

Graham Number$71.15

Current Price$199.01

Margin of Safety-64.2%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 25.46%

Terminal growth rate(%)

Computed WACC: 25.46%

Cost of equity (Re)25.76%(Rf 4.30% + β 3.90 × ERP 5.50%)

Cost of debt (Rd)18.78%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)97.27%

Debt weight (D/V)2.73%

Results

Current Price$199.01

Implied Near-term FCF Growth98.7%

Historical Revenue Growth63.0%

Historical Earnings Growth21033.3%

Base FCF (TTM)$11.09M

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$199.01

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $143.60M

Target EV/EBITDA multipleCurrent: 18.1×

Net Debt($B)Default: -$16.44M

Results

Implied Equity Value / share$214.10

Current Price$199.01

Upside / Downside+7.6%

Implied EV$2.59B

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

Mult \ Net Debt	-$2.02B	-$1.02B	-$16.44M	$983.56M	$1.98B
14.1x	$331.05	$249.01	$166.98	$84.95	$2.91
16.1x	$354.61	$272.57	$190.54	$108.51	$26.47
18.1x	$378.17	$296.14	$214.10	$132.07	$50.03
20.1x	$401.73	$319.70	$237.66	$155.63	$73.59
22.1x	$425.29	$343.26	$261.22	$179.19	$97.15

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