DOLE — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($15.46)
DCF	$6.06	-60.8%
Graham Number	$20.16	+30.4%
Reverse DCF	—	implied g: 17.1%
DDM	$7.00	-54.7%
EV/EBITDA	$16.91	+9.4%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $68.65M

Near-term growth (yrs 1–5)(%)Rev: 9.2% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.17%

Computed WACC: 7.17%

Cost of equity (Re)7.87%(Rf 4.30% + β 0.65 × ERP 5.50%)

Cost of debt (Rd)8.02%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)54.16%

Debt weight (D/V)45.84%

Results

Intrinsic Value / share$12.77

Current Price$15.46

Upside / Downside-17.4%

Net Debt (used)$964.56M

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

WACC \ Near-term	1.2%	5.2%	9.2%	13.2%	17.2%
7.0%	$6.58	$9.87	$13.67	$18.06	$23.09
8.0%	$3.49	$6.12	$9.17	$12.67	$16.68
9.0%	$1.36	$3.54	$6.06	$8.95	$12.27
10.0%	$-0.21	$1.65	$3.78	$6.23	$9.04
11.0%	$-1.40	$0.20	$2.05	$4.16	$6.58

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.26

Book Value / share($)Yahoo: $14.33

Results

Graham Number$20.16

Current Price$15.46

Margin of Safety+30.4%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.17%

Terminal growth rate(%)

Computed WACC: 7.17%

Cost of equity (Re)7.87%(Rf 4.30% + β 0.65 × ERP 5.50%)

Cost of debt (Rd)8.02%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)54.16%

Debt weight (D/V)45.84%

Results

Current Price$15.46

Implied Near-term FCF Growth11.0%

Historical Revenue Growth9.2%

Historical Earnings Growth—

Base FCF (TTM)$68.65M

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: $0.34

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$7.00

Current Price$15.46

Upside / Downside-54.7%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $328.67M

Target EV/EBITDA multipleCurrent: 7.8×

Net Debt($B)Default: $964.56M

Results

Implied Equity Value / share$16.91

Current Price$15.46

Upside / Downside+9.4%

Implied EV$2.57B

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

Mult \ Net Debt	-$1.04B	-$35.44M	$964.56M	$1.96B	$2.96B
3.8x	$24.11	$13.60	$3.09	$-7.42	$-17.92
5.8x	$31.02	$20.51	$10.00	$-0.51	$-11.02
7.8x	$37.92	$27.42	$16.91	$6.40	$-4.11
9.8x	$44.83	$34.32	$23.81	$13.31	$2.80
11.8x	$51.74	$41.23	$30.72	$20.21	$9.71

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