EPR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($59.72)
DCF	$36.70	-38.5%
Graham Number	$39.61	-33.7%
Reverse DCF	—	implied g: 9.5%
DDM	$73.34	+22.8%
EV/EBITDA	$60.10	+0.6%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $332.53M

Near-term growth (yrs 1–5)(%)Rev: 3.9% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.14%

Computed WACC: 7.14%

Cost of equity (Re)9.56%(Rf 4.30% + β 0.96 × ERP 5.50%)

Cost of debt (Rd)4.60%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)59.20%

Debt weight (D/V)40.80%

Results

Intrinsic Value / share$67.81

Current Price$59.72

Upside / Downside+13.5%

Net Debt (used)$3.04B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$37.36	$53.00	$71.19	$92.25	$116.50
8.0%	$23.60	$36.19	$50.81	$67.71	$87.15
9.0%	$14.07	$24.55	$36.70	$50.74	$66.86
10.0%	$7.07	$16.01	$26.36	$38.30	$52.00
11.0%	$1.71	$9.48	$18.46	$28.80	$40.66

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.28

Book Value / share($)Yahoo: $30.59

Results

Graham Number$39.61

Current Price$59.72

Margin of Safety-33.7%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.14%

Terminal growth rate(%)

Computed WACC: 7.14%

Cost of equity (Re)9.56%(Rf 4.30% + β 0.96 × ERP 5.50%)

Cost of debt (Rd)4.60%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)59.20%

Debt weight (D/V)40.80%

Results

Current Price$59.72

Implied Near-term FCF Growth3.7%

Historical Revenue Growth3.9%

Historical Earnings Growth—

Base FCF (TTM)$332.53M

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: $3.56

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$73.34

Current Price$59.72

Upside / Downside+22.8%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $549.88M

Target EV/EBITDA multipleCurrent: 13.9×

Net Debt($B)Default: $3.04B

Results

Implied Equity Value / share$60.10

Current Price$59.72

Upside / Downside+0.6%

Implied EV$7.62B

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

Mult \ Net Debt	$1.04B	$2.04B	$3.04B	$4.04B	$5.04B
9.9x	$57.48	$44.34	$31.21	$18.08	$4.94
11.9x	$71.92	$58.79	$45.65	$32.52	$19.39
13.9x	$86.36	$73.23	$60.10	$46.96	$33.83
15.9x	$100.81	$87.67	$74.54	$61.41	$48.27
17.9x	$115.25	$102.12	$88.98	$75.85	$62.72

← Overview Financial Statements ← Companies