FICO — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($1407.54)
DCF	$693.19	-50.8%
Graham Number	—	—
Reverse DCF	—	implied g: 27.5%
DDM	—	—
EV/EBITDA	$1407.54	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $573.16M

Near-term growth (yrs 1–5)(%)Rev: 16.4% / EPS: 7.7%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 10.29%

Computed WACC: 10.29%

Cost of equity (Re)11.28%(Rf 4.30% + β 1.27 × 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)91.22%

Debt weight (D/V)8.78%

Results

Intrinsic Value / share$541.48

Current Price$1407.54

Upside / Downside-61.5%

Net Debt (used)$3.05B

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

WACC \ Near-term	8.4%	12.4%	16.4%	20.4%	24.4%
7.0%	$751.26	$915.83	$1104.83	$1320.91	$1566.93
8.0%	$580.17	$710.94	$861.00	$1032.42	$1227.45
9.0%	$462.33	$569.89	$693.19	$833.93	$993.94
10.0%	$376.41	$467.09	$570.93	$689.37	$823.92
11.0%	$311.11	$388.98	$478.09	$579.63	$694.90

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $27.02

Book Value / share($)Yahoo: $-76.09

Results

Graham Number requires positive EPS and positive Book Value per share. BVPS is zero or negative.

Graham Number—

Current Price$1407.54

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 10.29%

Terminal growth rate(%)

Computed WACC: 10.29%

Cost of equity (Re)11.28%(Rf 4.30% + β 1.27 × 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)91.22%

Debt weight (D/V)8.78%

Results

Current Price$1407.54

Implied Near-term FCF Growth31.7%

Historical Revenue Growth16.4%

Historical Earnings Growth7.7%

Base FCF (TTM)$573.16M

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$1407.54

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.01B

Target EV/EBITDA multipleCurrent: 36.2×

Net Debt($B)Default: $3.05B

Results

Implied Equity Value / share$1407.54

Current Price$1407.54

Upside / Downside-0.0%

Implied EV$36.44B

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

Mult \ Net Debt	$1.05B	$2.05B	$3.05B	$4.05B	$5.05B
32.2x	$1322.26	$1280.11	$1237.95	$1195.80	$1153.64
34.2x	$1407.06	$1364.90	$1322.75	$1280.59	$1238.44
36.2x	$1491.85	$1449.69	$1407.54	$1365.38	$1323.23
38.2x	$1576.64	$1534.49	$1492.33	$1450.18	$1408.02
40.2x	$1661.43	$1619.28	$1577.12	$1534.97	$1492.81

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