FCN — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($163.98)
DCF	$497.90	+203.6%
Graham Number	$100.29	-38.8%
Reverse DCF	—	implied g: 10.4%
DDM	—	—
EV/EBITDA	$159.37	-2.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $224.84M

Near-term growth (yrs 1–5)(%)Rev: 10.7% / EPS: 29.3%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 3.97%

Computed WACC: 3.97%

Cost of equity (Re)4.44%(Rf 4.30% + β 0.03 × 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)89.44%

Debt weight (D/V)10.56%

Results

Intrinsic Value / share$2665.63

Current Price$163.98

Upside / Downside+1525.6%

Net Debt (used)$361.63M

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

WACC \ Near-term	21.3%	25.3%	29.3%	33.3%	37.3%
7.0%	$564.00	$661.96	$773.01	$898.46	$1039.65
8.0%	$444.88	$521.93	$609.24	$707.80	$818.70
9.0%	$363.23	$425.96	$497.00	$577.18	$667.34
10.0%	$303.99	$356.35	$415.62	$482.47	$557.62
11.0%	$259.22	$303.75	$354.14	$410.94	$474.76

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $7.81

Book Value / share($)Yahoo: $57.24

Results

Graham Number$100.29

Current Price$163.98

Margin of Safety-38.8%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 3.97%

Terminal growth rate(%)

Computed WACC: 3.97%

Cost of equity (Re)4.44%(Rf 4.30% + β 0.03 × 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)89.44%

Debt weight (D/V)10.56%

Results

Current Price$163.98

Implied Near-term FCF Growth-11.4%

Historical Revenue Growth10.7%

Historical Earnings Growth29.3%

Base FCF (TTM)$224.84M

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: —

Dividend growth rate (g)(%)

Required return (r)(%)

Results

This company does not pay a dividend. DDM is not applicable — the intrinsic value shown uses D0 = $0 unless you enter a hypothetical dividend above.

DDM Intrinsic Value / share—

Current Price$163.98

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $463.62M

Target EV/EBITDA multipleCurrent: 11.4×

Net Debt($B)Default: $361.63M

Results

Implied Equity Value / share$159.37

Current Price$163.98

Upside / Downside-2.8%

Implied EV$5.28B

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

Mult \ Net Debt	-$1.64B	-$638.37M	$361.63M	$1.36B	$2.36B
7.4x	$164.09	$131.70	$99.31	$66.92	$34.54
9.4x	$194.12	$161.73	$129.34	$96.95	$64.57
11.4x	$224.15	$191.76	$159.37	$126.99	$94.60
13.4x	$254.18	$221.79	$189.40	$157.02	$124.63
15.4x	$284.21	$251.82	$219.43	$187.05	$154.66

← Overview Financial Statements ← Companies