EVRG — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($84.01)
DCF	$-138.95	-265.4%
Graham Number	$60.46	-28.0%
Reverse DCF	—	—
DDM	$57.27	-31.8%
EV/EBITDA	$84.21	+0.2%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$862.12M

Near-term growth (yrs 1–5)(%)Rev: 6.6% / EPS: 4.7%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.98%

Computed WACC: 5.98%

Cost of equity (Re)7.62%(Rf 4.30% + β 0.60 × ERP 5.50%)

Cost of debt (Rd)4.96%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)55.69%

Debt weight (D/V)44.31%

Results

Intrinsic Value / share$-203.55

Current Price$84.01

Upside / Downside-342.3%

Net Debt (used)$15.37B

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

WACC \ Near-term	-1.4%	2.6%	6.6%	10.6%	14.6%
7.0%	$-140.23	$-154.93	$-172.01	$-191.74	$-214.42
8.0%	$-126.96	$-138.77	$-152.46	$-168.27	$-186.42
9.0%	$-117.77	$-127.59	$-138.95	$-152.05	$-167.08
10.0%	$-111.03	$-119.39	$-129.05	$-140.18	$-152.93
11.0%	$-105.88	$-113.13	$-121.50	$-131.12	$-142.14

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $3.66

Book Value / share($)Yahoo: $44.39

Results

Graham Number$60.46

Current Price$84.01

Margin of Safety-28.0%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.98%

Terminal growth rate(%)

Computed WACC: 5.98%

Cost of equity (Re)7.62%(Rf 4.30% + β 0.60 × ERP 5.50%)

Cost of debt (Rd)4.96%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)55.69%

Debt weight (D/V)44.31%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$84.01

Implied Near-term FCF Growth—

Historical Revenue Growth6.6%

Historical Earnings Growth4.7%

Base FCF (TTM)-$862.12M

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: $2.78

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$57.27

Current Price$84.01

Upside / Downside-31.8%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $2.74B

Target EV/EBITDA multipleCurrent: 12.7×

Net Debt($B)Default: $15.37B

Results

Implied Equity Value / share$84.21

Current Price$84.01

Upside / Downside+0.2%

Implied EV$34.77B

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

Mult \ Net Debt	$7.37B	$11.37B	$15.37B	$19.37B	$23.37B
8.7x	$71.34	$53.97	$36.60	$19.23	$1.86
10.7x	$95.15	$77.78	$60.41	$43.04	$25.67
12.7x	$118.95	$101.58	$84.21	$66.84	$49.47
14.7x	$142.76	$125.39	$108.02	$90.65	$73.28
16.7x	$166.57	$149.20	$131.83	$114.46	$97.09

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