FAST — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($46.49)
DCF	$17.44	-62.5%
Graham Number	$9.18	-80.3%
Reverse DCF	—	implied g: 28.4%
DDM	$18.54	-60.1%
EV/EBITDA	$46.04	-1.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $805.24M

Near-term growth (yrs 1–5)(%)Rev: 11.1% / EPS: 9.3%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.09%

Computed WACC: 9.09%

Cost of equity (Re)9.17%(Rf 4.30% + β 0.89 × 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)99.18%

Debt weight (D/V)0.82%

Results

Intrinsic Value / share$17.15

Current Price$46.49

Upside / Downside-63.1%

Net Debt (used)$165.10M

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

WACC \ Near-term	3.1%	7.1%	11.1%	15.1%	19.1%
7.0%	$18.15	$21.71	$25.81	$30.53	$35.93
8.0%	$14.72	$17.56	$20.84	$24.60	$28.90
9.0%	$12.36	$14.70	$17.41	$20.51	$24.06
10.0%	$10.62	$12.61	$14.90	$17.53	$20.52
11.0%	$9.30	$11.02	$12.99	$15.25	$17.83

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.09

Book Value / share($)Yahoo: $3.44

Results

Graham Number$9.18

Current Price$46.49

Margin of Safety-80.3%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.09%

Terminal growth rate(%)

Computed WACC: 9.09%

Cost of equity (Re)9.17%(Rf 4.30% + β 0.89 × 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)99.18%

Debt weight (D/V)0.82%

Results

Current Price$46.49

Implied Near-term FCF Growth28.7%

Historical Revenue Growth11.1%

Historical Earnings Growth9.3%

Base FCF (TTM)$805.24M

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: $0.90

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$18.54

Current Price$46.49

Upside / Downside-60.1%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.83B

Target EV/EBITDA multipleCurrent: 28.9×

Net Debt($B)Default: $165.10M

Results

Implied Equity Value / share$46.04

Current Price$46.49

Upside / Downside-1.0%

Implied EV$53.03B

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

Mult \ Net Debt	-$1.83B	-$834.90M	$165.10M	$1.17B	$2.17B
24.9x	$41.39	$40.52	$39.65	$38.78	$37.91
26.9x	$44.59	$43.71	$42.84	$41.97	$41.10
28.9x	$47.78	$46.91	$46.04	$45.17	$44.30
30.9x	$50.98	$50.11	$49.24	$48.36	$47.49
32.9x	$54.17	$53.30	$52.43	$51.56	$50.69

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