E

E — Valuation Models

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

Valuation Summary

ModelIntrinsic Valuevs Price ($47.36)
DCF$-115.08-343.0%
Graham Number$28.68-39.4%
Reverse DCF
DDM$47.79+0.9%
EV/EBITDA$99.15+109.4%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: -$8.55B
Rev: -12.2% / EPS: -68.2%
Default: 9% (no SEC data)

Results

Intrinsic Value / share$-115.08
Current Price$47.36
Upside / Downside-343.0%
Net Debt (used)$19.11B
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term-3.0%1.0%5.0%9.0%13.0%
7.0%$-115.95$-136.77$-161.00$-189.03$-221.32
8.0%$-97.63$-114.39$-133.86$-156.36$-182.24
9.0%$-84.94$-98.89$-115.08$-133.76$-155.23
10.0%$-75.62$-87.52$-101.31$-117.20$-135.44
11.0%$-68.48$-78.83$-90.79$-104.56$-120.34

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $1.93
Yahoo: $18.94

Results

Graham Number$28.68
Current Price$47.36
Margin of Safety-39.4%
Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

Default: 9% (no SEC data)

Results

Reverse DCF requires positive TTM free cash flow.
Current Price$47.36
Implied Near-term FCF Growth
Historical Revenue Growth-12.2%
Historical Earnings Growth-68.2%
Base FCF (TTM)-$8.55B
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

Yahoo: $2.32

Results

DDM Intrinsic Value / share$47.79
Current Price$47.36
Upside / Downside+0.9%
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: $13.97B
Current: 11.8×
Default: $19.11B

Results

Implied Equity Value / share$99.15
Current Price$47.36
Upside / Downside+109.4%
Implied EV$164.92B
Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)
Mult \ Net Debt$9.11B$14.11B$19.11B$24.11B$29.11B
7.8x$67.97$64.57$61.17$57.77$54.37
9.8x$86.96$83.56$80.16$76.76$73.36
11.8x$105.95$102.55$99.15$95.75$92.35
13.8x$124.95$121.55$118.15$114.75$111.35
15.8x$143.94$140.54$137.14$133.74$130.34