FNV

FNV — Valuation Models

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

Valuation Summary

ModelIntrinsic Valuevs Price ($277.92)
DCF$-7337.10-2740.0%
Graham Number$62.10-77.7%
Reverse DCF
DDM$36.26-87.0%
EV/EBITDA$277.92+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: -$1.16B
Rev: 77.3% / EPS: 88.6%
Default: 9% (no SEC data)

Results

Intrinsic Value / share$-7337.10
Current Price$277.92
Upside / Downside-2740.0%
Net Debt (used)-$280.80M
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term80.6%84.6%88.6%92.6%96.6%
7.0%$-9636.00$-10746.89$-11958.08$-13276.23$-14708.27
8.0%$-7419.89$-8274.36$-9205.93$-10219.71$-11321.02
9.0%$-5915.01$-6595.38$-7337.10$-8144.23$-9021.01
10.0%$-4834.67$-5390.09$-5995.55$-6654.37$-7369.99
11.0%$-4027.29$-4489.36$-4993.01$-5541.01$-6136.23

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $4.72
Yahoo: $36.31

Results

Graham Number$62.10
Current Price$277.92
Margin of Safety-77.7%
Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

Default: 9% (no SEC data)

Results

Reverse DCF requires positive TTM free cash flow.
Current Price$277.92
Implied Near-term FCF Growth
Historical Revenue Growth77.3%
Historical Earnings Growth88.6%
Base FCF (TTM)-$1.16B
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

Yahoo: $1.76

Results

DDM Intrinsic Value / share$36.26
Current Price$277.92
Upside / Downside-87.0%
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: $1.39B
Current: 38.4×
Default: -$280.80M

Results

Implied Equity Value / share$277.92
Current Price$277.92
Upside / Downside+0.0%
Implied EV$53.30B
Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)
Mult \ Net Debt-$2.28B-$1.28B-$280.80M$719.20M$1.72B
34.4x$259.49$254.31$249.12$243.93$238.74
36.4x$273.90$268.71$263.52$258.33$253.15
38.4x$288.30$283.11$277.92$272.73$267.55
40.4x$302.70$297.51$292.32$287.14$281.95
42.4x$317.10$311.91$306.72$301.54$296.35