DORM — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($115.93)
DCF	$-10.14	-108.8%
Graham Number	$85.21	-26.5%
Reverse DCF	—	implied g: 60.7%
DDM	—	—
EV/EBITDA	$115.13	-0.7%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $11.58M

Near-term growth (yrs 1–5)(%)Rev: 0.8% / EPS: -78.8%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.09%

Computed WACC: 8.09%

Cost of equity (Re)9.37%(Rf 4.30% + β 0.92 × 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)86.33%

Debt weight (D/V)13.67%

Results

Intrinsic Value / share$-9.04

Current Price$115.93

Upside / Downside-107.8%

Net Debt (used)$511.53M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-10.09	$-8.72	$-7.14	$-5.30	$-3.18
8.0%	$-11.29	$-10.19	$-8.91	$-7.44	$-5.74
9.0%	$-12.12	$-11.20	$-10.14	$-8.92	$-7.51
10.0%	$-12.73	$-11.95	$-11.05	$-10.00	$-8.81
11.0%	$-13.20	$-12.52	$-11.74	$-10.83	$-9.80

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $6.64

Book Value / share($)Yahoo: $48.60

Results

Graham Number$85.21

Current Price$115.93

Margin of Safety-26.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.09%

Terminal growth rate(%)

Computed WACC: 8.09%

Cost of equity (Re)9.37%(Rf 4.30% + β 0.92 × 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)86.33%

Debt weight (D/V)13.67%

Results

Current Price$115.93

Implied Near-term FCF Growth56.6%

Historical Revenue Growth0.8%

Historical Earnings Growth-78.8%

Base FCF (TTM)$11.58M

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$115.93

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $411.98M

Target EV/EBITDA multipleCurrent: 9.7×

Net Debt($B)Default: $511.53M

Results

Implied Equity Value / share$115.13

Current Price$115.93

Upside / Downside-0.7%

Implied EV$4.01B

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

Mult \ Net Debt	-$1.49B	-$488.47M	$511.53M	$1.51B	$2.51B
5.7x	$126.72	$93.81	$60.91	$28.01	$-4.90
7.7x	$153.83	$120.93	$88.02	$55.12	$22.22
9.7x	$180.94	$148.04	$115.13	$82.23	$49.33
11.7x	$208.05	$175.15	$142.25	$109.34	$76.44
13.7x	$235.16	$202.26	$169.36	$136.45	$103.55

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