FDP — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($42.66)
DCF	$662.44	+1452.8%
Graham Number	$42.43	-0.5%
Reverse DCF	—	implied g: 8.2%
DDM	$24.72	-42.1%
EV/EBITDA	$42.96	+0.7%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $110.24M

Near-term growth (yrs 1–5)(%)Rev: 0.6% / EPS: 56.7%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.43%

Computed WACC: 5.43%

Cost of equity (Re)5.65%(Rf 4.30% + β 0.24 × ERP 5.50%)

Cost of debt (Rd)5.27%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)85.38%

Debt weight (D/V)14.62%

Results

Intrinsic Value / share$1771.24

Current Price$42.66

Upside / Downside+4052.0%

Net Debt (used)$313.30M

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

WACC \ Near-term	48.7%	52.7%	56.7%	60.7%	64.7%
7.0%	$816.38	$931.79	$1059.87	$1201.62	$1358.12
8.0%	$633.92	$723.47	$822.83	$932.78	$1054.15
9.0%	$509.57	$581.50	$661.29	$749.58	$847.02
10.0%	$419.94	$479.18	$544.88	$617.56	$697.76
11.0%	$352.67	$402.39	$457.51	$518.49	$585.76

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.88

Book Value / share($)Yahoo: $42.56

Results

Graham Number$42.43

Current Price$42.66

Margin of Safety-0.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.43%

Terminal growth rate(%)

Computed WACC: 5.43%

Cost of equity (Re)5.65%(Rf 4.30% + β 0.24 × ERP 5.50%)

Cost of debt (Rd)5.27%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)85.38%

Debt weight (D/V)14.62%

Results

Current Price$42.66

Implied Near-term FCF Growth-4.2%

Historical Revenue Growth0.6%

Historical Earnings Growth56.7%

Base FCF (TTM)$110.24M

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: $1.20

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$24.72

Current Price$42.66

Upside / Downside-42.1%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $254.00M

Target EV/EBITDA multipleCurrent: 9.2×

Net Debt($B)Default: $313.30M

Results

Implied Equity Value / share$42.96

Current Price$42.66

Upside / Downside+0.7%

Implied EV$2.35B

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

Mult \ Net Debt	-$1.69B	-$686.70M	$313.30M	$1.31B	$2.31B
5.2x	$63.72	$42.62	$21.51	$0.41	$-20.69
7.2x	$74.44	$53.34	$32.24	$11.13	$-9.97
9.2x	$85.17	$64.06	$42.96	$21.85	$0.75
11.2x	$95.89	$74.78	$53.68	$32.57	$11.47
13.2x	$106.61	$85.50	$64.40	$43.29	$22.19

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