FOXA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($56.79)
DCF	$127.15	+123.9%
Graham Number	$49.28	-13.2%
Reverse DCF	—	implied g: -5.3%
DDM	$11.54	-79.7%
EV/EBITDA	$121.33	+113.7%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $1.77B

Near-term growth (yrs 1–5)(%)Rev: 2.0% / EPS: -35.8%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.43%

Computed WACC: 5.43%

Cost of equity (Re)7.11%(Rf 4.30% + β 0.51 × 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)76.32%

Debt weight (D/V)23.68%

Results

Intrinsic Value / share$317.67

Current Price$56.79

Upside / Downside+459.4%

Net Debt (used)$5.48B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$128.47	$159.97	$196.62	$239.03	$287.89
8.0%	$100.76	$126.11	$155.56	$189.60	$228.76
9.0%	$81.55	$102.66	$127.15	$155.41	$187.89
10.0%	$67.45	$85.46	$106.32	$130.36	$157.96
11.0%	$56.65	$72.30	$90.40	$111.23	$135.11

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $4.20

Book Value / share($)Yahoo: $25.70

Results

Graham Number$49.28

Current Price$56.79

Margin of Safety-13.2%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.43%

Terminal growth rate(%)

Computed WACC: 5.43%

Cost of equity (Re)7.11%(Rf 4.30% + β 0.51 × 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)76.32%

Debt weight (D/V)23.68%

Results

Current Price$56.79

Implied Near-term FCF Growth-15.8%

Historical Revenue Growth2.0%

Historical Earnings Growth-35.8%

Base FCF (TTM)$1.77B

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: $0.56

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$11.54

Current Price$56.79

Upside / Downside-79.7%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $3.53B

Target EV/EBITDA multipleCurrent: 8.4×

Net Debt($B)Default: $5.48B

Results

Implied Equity Value / share$121.33

Current Price$56.79

Upside / Downside+113.7%

Implied EV$29.83B

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

Mult \ Net Debt	$3.48B	$4.48B	$5.48B	$6.48B	$7.48B
4.4x	$60.88	$55.90	$50.92	$45.94	$40.95
6.4x	$96.09	$91.11	$86.13	$81.14	$76.16
8.4x	$131.30	$126.32	$121.33	$116.35	$111.37
10.4x	$166.51	$161.53	$156.54	$151.56	$146.58
12.4x	$201.72	$196.73	$191.75	$186.77	$181.78

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