FLR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($50.91)
DCF	$-16.58	-132.6%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$292.38M

Near-term growth (yrs 1–5)(%)Rev: -2.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.91%

Computed WACC: 9.91%

Cost of equity (Re)11.33%(Rf 4.30% + β 1.28 × 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)87.46%

Debt weight (D/V)12.54%

Results

Intrinsic Value / share$-12.23

Current Price$50.91

Upside / Downside-124.0%

Net Debt (used)-$2.70B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-16.88	$-24.02	$-32.33	$-41.95	$-53.03
8.0%	$-10.60	$-16.34	$-23.02	$-30.74	$-39.62
9.0%	$-6.24	$-11.03	$-16.58	$-22.99	$-30.35
10.0%	$-3.04	$-7.13	$-11.86	$-17.31	$-23.57
11.0%	$-0.59	$-4.14	$-8.25	$-12.97	$-18.39

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.31

Book Value / share($)Yahoo: $21.34

Results

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

Graham Number—

Current Price$50.91

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.91%

Terminal growth rate(%)

Computed WACC: 9.91%

Cost of equity (Re)11.33%(Rf 4.30% + β 1.28 × 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)87.46%

Debt weight (D/V)12.54%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$50.91

Implied Near-term FCF Growth—

Historical Revenue Growth-2.0%

Historical Earnings Growth—

Base FCF (TTM)-$292.38M

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$50.91

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: -$201.00M

Target EV/EBITDA multipleCurrent: -23.8×

Net Debt($B)Default: -$2.70B

Results

Implied Equity Value / share$51.14

Current Price$50.91

Upside / Downside+0.4%

Implied EV$4.79B

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