DT — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($36.71)
DCF	$63.41	+72.7%
Graham Number	$11.22	-69.4%
Reverse DCF	—	implied g: 7.9%
DDM	—	—
EV/EBITDA	$36.71	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $472.53M

Near-term growth (yrs 1–5)(%)Rev: 18.2% / EPS: -89.1%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.71%

Computed WACC: 8.71%

Cost of equity (Re)8.77%(Rf 4.30% + β 0.81 × ERP 5.50%)

Cost of debt (Rd)1.17%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)99.23%

Debt weight (D/V)0.77%

Results

Intrinsic Value / share$66.58

Current Price$36.71

Upside / Downside+81.4%

Net Debt (used)-$1.10B

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

WACC \ Near-term	10.2%	14.2%	18.2%	22.2%	26.2%
7.0%	$68.18	$80.08	$93.72	$109.30	$126.99
8.0%	$55.51	$64.95	$75.76	$88.10	$102.11
9.0%	$46.79	$54.54	$63.41	$73.52	$85.00
10.0%	$40.43	$46.96	$54.42	$62.92	$72.55
11.0%	$35.61	$41.20	$47.60	$54.87	$63.12

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.61

Book Value / share($)Yahoo: $9.18

Results

Graham Number$11.22

Current Price$36.71

Margin of Safety-69.4%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.71%

Terminal growth rate(%)

Computed WACC: 8.71%

Cost of equity (Re)8.77%(Rf 4.30% + β 0.81 × ERP 5.50%)

Cost of debt (Rd)1.17%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)99.23%

Debt weight (D/V)0.77%

Results

Current Price$36.71

Implied Near-term FCF Growth7.1%

Historical Revenue Growth18.2%

Historical Earnings Growth-89.1%

Base FCF (TTM)$472.53M

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$36.71

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $270.11M

Target EV/EBITDA multipleCurrent: 36.5×

Net Debt($B)Default: -$1.10B

Results

Implied Equity Value / share$36.71

Current Price$36.71

Upside / Downside-0.0%

Implied EV$9.85B

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

Mult \ Net Debt	-$1.10B	-$1.10B	-$1.10B	-$1.10B	-$1.10B
32.5x	$33.09	$33.09	$33.09	$33.09	$33.09
34.5x	$34.90	$34.90	$34.90	$34.90	$34.90
36.5x	$36.71	$36.71	$36.71	$36.71	$36.71
38.5x	$38.52	$38.52	$38.52	$38.52	$38.52
40.5x	$40.33	$40.33	$40.33	$40.33	$40.33

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