FOUR-PA

FOUR-PA — Valuation Models

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

Valuation Summary

ModelIntrinsic Valuevs Price ($60.19)
DCF$39093741700.41+64950559295.9%
Graham Number
Reverse DCFimplied g: -9.1%
DDM$91.67+52.3%
EV/EBITDA$6309504000.00+10482644857.6%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: $476.25M
Rev: 33.9% / EPS: -72.2%
Default: 9% (no SEC data)

Results

Intrinsic Value / share$39168764575.05
Current Price$60.19
Upside / Downside+65075202716.2%
Net Debt (used)$3.65B
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term25.9%29.9%33.9%37.9%41.9%
7.0%$45652316727.35$53764383925.15$62923685232.43$73229116334.64$84785628511.52
8.0%$35280558462.98$41641634630.22$48820860133.52$56895341737.79$65946901622.89
9.0%$28179879752.98$33343523438.81$39168764575.05$45717826721.18$53056733723.80
10.0%$23036277914.25$27333625325.87$32179401974.56$37625078332.98$43725264228.25
11.0%$19154555715.35$22799069360.85$26906806444.32$31521146074.59$36688109588.96

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: —
Yahoo: $7.24

Results

Graham Number requires positive EPS and positive Book Value per share. EPS is zero or negative.
Graham Number
Current Price$60.19
Margin of Safety
Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

Default: 9% (no SEC data)

Results

Current Price$60.19
Implied Near-term FCF Growth-9.1%
Historical Revenue Growth33.9%
Historical Earnings Growth-72.2%
Base FCF (TTM)$476.25M
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: $4.45

Results

DDM Intrinsic Value / share$91.67
Current Price$60.19
Upside / Downside+52.3%
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: $784.00M
Current: 12.7×
Default: $3.65B

Results

Implied Equity Value / share$6309504000.00
Current Price$60.19
Upside / Downside+10482644857.6%
Implied EV$9.96B
Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)
Mult \ Net Debt$1.65B$2.65B$3.65B$4.65B$5.65B
8.7x$5173504000.00$4173504000.00$3173504000.00$2173504000.00$1173504000.00
10.7x$6741504000.00$5741504000.00$4741504000.00$3741504000.00$2741504000.00
12.7x$8309504000.00$7309504000.00$6309504000.00$5309504000.00$4309504000.00
14.7x$9877504000.00$8877504000.00$7877504000.00$6877504000.00$5877504000.00
16.7x$11445504000.00$10445504000.00$9445504000.00$8445504000.00$7445504000.00