ELV — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($284.03)
DCF	$1586.62	+458.6%
Graham Number	$335.74	+18.2%
Reverse DCF	—	implied g: 4.9%
DDM	$141.73	-50.1%
EV/EBITDA	$294.71	+3.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $3.40B

Near-term growth (yrs 1–5)(%)Rev: 9.5% / EPS: 36.3%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 4.52%

Computed WACC: 4.52%

Cost of equity (Re)6.87%(Rf 4.30% + β 0.47 × 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)65.68%

Debt weight (D/V)34.32%

Results

Intrinsic Value / share$6052.92

Current Price$284.03

Upside / Downside+2031.1%

Net Debt (used)-$3.37B

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

WACC \ Near-term	28.3%	32.3%	36.3%	40.3%	44.3%
7.0%	$1836.24	$2130.64	$2462.36	$2834.86	$3251.81
8.0%	$1450.47	$1681.02	$1940.70	$2232.20	$2558.38
9.0%	$1186.52	$1373.43	$1583.86	$1820.01	$2084.15
10.0%	$995.43	$1150.78	$1325.62	$1521.74	$1741.04
11.0%	$851.32	$982.91	$1130.93	$1296.91	$1482.45

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $25.20

Book Value / share($)Yahoo: $198.81

Results

Graham Number$335.74

Current Price$284.03

Margin of Safety+18.2%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 4.52%

Terminal growth rate(%)

Computed WACC: 4.52%

Cost of equity (Re)6.87%(Rf 4.30% + β 0.47 × 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)65.68%

Debt weight (D/V)34.32%

Results

Current Price$284.03

Implied Near-term FCF Growth-11.9%

Historical Revenue Growth9.5%

Historical Earnings Growth36.3%

Base FCF (TTM)$3.40B

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: $6.88

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$141.73

Current Price$284.03

Upside / Downside-50.1%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $9.04B

Target EV/EBITDA multipleCurrent: 6.8×

Net Debt($B)Default: -$3.37B

Results

Implied Equity Value / share$294.71

Current Price$284.03

Upside / Downside+3.8%

Implied EV$61.68B

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

Mult \ Net Debt	-$5.37B	-$4.37B	-$3.37B	-$2.37B	-$1.37B
2.8x	$139.94	$135.41	$130.88	$126.34	$121.81
4.8x	$221.86	$217.33	$212.80	$208.26	$203.73
6.8x	$303.78	$299.25	$294.71	$290.18	$285.65
8.8x	$385.70	$381.17	$376.63	$372.10	$367.57
10.8x	$467.62	$463.08	$458.55	$454.02	$449.49

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