DECK — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($114.51)
DCF	$145.50	+27.1%
Graham Number	$53.89	-52.9%
Reverse DCF	—	implied g: 6.5%
DDM	—	—
EV/EBITDA	$117.27	+2.4%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $758.73M

Near-term growth (yrs 1–5)(%)Rev: 7.1% / EPS: 11.0%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 10.39%

Computed WACC: 10.39%

Cost of equity (Re)10.60%(Rf 4.30% + β 1.15 × 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)97.99%

Debt weight (D/V)2.01%

Results

Intrinsic Value / share$120.40

Current Price$114.51

Upside / Downside+5.1%

Net Debt (used)-$1.74B

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

WACC \ Near-term	3.0%	7.0%	11.0%	15.0%	19.0%
7.0%	$151.11	$178.08	$209.25	$245.08	$286.09
8.0%	$125.09	$146.65	$171.52	$200.09	$232.76
9.0%	$107.13	$124.95	$145.50	$169.07	$196.00
10.0%	$93.99	$109.10	$126.49	$146.42	$169.17
11.0%	$83.98	$97.02	$112.01	$129.18	$148.75

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $7.04

Book Value / share($)Yahoo: $18.33

Results

Graham Number$53.89

Current Price$114.51

Margin of Safety-52.9%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 10.39%

Terminal growth rate(%)

Computed WACC: 10.39%

Cost of equity (Re)10.60%(Rf 4.30% + β 1.15 × 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)97.99%

Debt weight (D/V)2.01%

Results

Current Price$114.51

Implied Near-term FCF Growth10.0%

Historical Revenue Growth7.1%

Historical Earnings Growth11.0%

Base FCF (TTM)$758.73M

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$114.51

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.36B

Target EV/EBITDA multipleCurrent: 11.0×

Net Debt($B)Default: -$1.74B

Results

Implied Equity Value / share$117.27

Current Price$114.51

Upside / Downside+2.4%

Implied EV$14.90B

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

Mult \ Net Debt	-$1.74B	-$1.74B	-$1.74B	-$1.74B	-$1.74B
7.0x	$78.95	$78.95	$78.95	$78.95	$78.95
9.0x	$98.11	$98.11	$98.11	$98.11	$98.11
11.0x	$117.27	$117.27	$117.27	$117.27	$117.27
13.0x	$136.43	$136.43	$136.43	$136.43	$136.43
15.0x	$155.59	$155.59	$155.59	$155.59	$155.59

← Overview Financial Statements ← Companies