ESQ — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($103.09)
DCF	$27.58	-73.2%
Graham Number	$68.69	-33.4%
Reverse DCF	—	—
DDM	$15.04	-85.4%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: —

Near-term growth (yrs 1–5)(%)Rev: 16.4% / EPS: 13.6%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.83%

Computed WACC: 6.83%

Cost of equity (Re)6.83%(Rf 4.30% + β 0.46 × 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)100.00%

Debt weight (D/V)0.00%

Results

Intrinsic Value / share$27.58

Current Price$103.09

Upside / Downside-73.2%

Net Debt (used)-$235.89M

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

WACC \ Near-term	8.4%	12.4%	16.4%	20.4%	24.4%
7.0%	$27.58	$27.58	$27.58	$27.58	$27.58
8.0%	$27.58	$27.58	$27.58	$27.58	$27.58
9.0%	$27.58	$27.58	$27.58	$27.58	$27.58
10.0%	$27.58	$27.58	$27.58	$27.58	$27.58
11.0%	$27.58	$27.58	$27.58	$27.58	$27.58

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $5.87

Book Value / share($)Yahoo: $35.73

Results

Graham Number$68.69

Current Price$103.09

Margin of Safety-33.4%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.83%

Terminal growth rate(%)

Computed WACC: 6.83%

Cost of equity (Re)6.83%(Rf 4.30% + β 0.46 × 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)100.00%

Debt weight (D/V)0.00%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$103.09

Implied Near-term FCF Growth—

Historical Revenue Growth16.4%

Historical Earnings Growth13.6%

Base FCF (TTM)—

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: $0.73

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$15.04

Current Price$103.09

Upside / Downside-85.4%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: -$235.89M

Results

Implied Equity Value / share$27.58

Current Price$103.09

Upside / Downside-73.2%

Implied EV$0

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