FND — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($67.28)
DCF	$-11.26	-116.7%
Graham Number	$31.71	-52.9%
Reverse DCF	—	implied g: 57.5%
DDM	—	—
EV/EBITDA	$69.17	+2.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $30.15M

Near-term growth (yrs 1–5)(%)Rev: 2.0% / EPS: -18.2%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 10.88%

Computed WACC: 10.88%

Cost of equity (Re)13.87%(Rf 4.30% + β 1.74 × 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)78.45%

Debt weight (D/V)21.55%

Results

Intrinsic Value / share$-12.37

Current Price$67.28

Upside / Downside-118.4%

Net Debt (used)$1.74B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-11.21	$-10.21	$-9.05	$-7.70	$-6.14
8.0%	$-12.10	$-11.29	$-10.35	$-9.27	$-8.02
9.0%	$-12.71	$-12.04	$-11.26	$-10.36	$-9.32
10.0%	$-13.15	$-12.58	$-11.92	$-11.15	$-10.28
11.0%	$-13.50	$-13.00	$-12.43	$-11.76	$-11.00

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.00

Book Value / share($)Yahoo: $22.35

Results

Graham Number$31.71

Current Price$67.28

Margin of Safety-52.9%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 10.88%

Terminal growth rate(%)

Computed WACC: 10.88%

Cost of equity (Re)13.87%(Rf 4.30% + β 1.74 × 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)78.45%

Debt weight (D/V)21.55%

Results

Current Price$67.28

Implied Near-term FCF Growth64.8%

Historical Revenue Growth2.0%

Historical Earnings Growth-18.2%

Base FCF (TTM)$30.15M

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$67.28

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $510.86M

Target EV/EBITDA multipleCurrent: 18.0×

Net Debt($B)Default: $1.74B

Results

Implied Equity Value / share$69.17

Current Price$67.28

Upside / Downside+2.8%

Implied EV$9.20B

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

Mult \ Net Debt	$1.74B	$1.74B	$1.74B	$1.74B	$1.74B
14.0x	$50.20	$50.20	$50.20	$50.20	$50.20
16.0x	$59.69	$59.69	$59.69	$59.69	$59.69
18.0x	$69.17	$69.17	$69.17	$69.17	$69.17
20.0x	$78.65	$78.65	$78.65	$78.65	$78.65
22.0x	$88.13	$88.13	$88.13	$88.13	$88.13

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