FTDR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($67.46)
DCF	$117.72	+74.5%
Graham Number	$16.36	-75.7%
Reverse DCF	—	implied g: 4.7%
DDM	—	—
EV/EBITDA	$66.06	-2.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $319.00M

Near-term growth (yrs 1–5)(%)Rev: 13.4% / EPS: -83.9%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 10.43%

Computed WACC: 10.43%

Cost of equity (Re)11.71%(Rf 4.30% + β 1.35 × ERP 5.50%)

Cost of debt (Rd)6.66%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)80.23%

Debt weight (D/V)19.77%

Results

Intrinsic Value / share$92.82

Current Price$67.46

Upside / Downside+37.6%

Net Debt (used)$645.00M

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

WACC \ Near-term	5.4%	9.4%	13.4%	17.4%	21.4%
7.0%	$124.69	$150.22	$179.64	$213.38	$251.91
8.0%	$99.21	$119.56	$142.98	$169.82	$200.44
9.0%	$81.63	$98.42	$117.72	$139.81	$165.00
10.0%	$68.80	$82.99	$99.29	$117.93	$139.16
11.0%	$59.03	$71.25	$85.27	$101.29	$119.53

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $3.49

Book Value / share($)Yahoo: $3.41

Results

Graham Number$16.36

Current Price$67.46

Margin of Safety-75.7%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 10.43%

Terminal growth rate(%)

Computed WACC: 10.43%

Cost of equity (Re)11.71%(Rf 4.30% + β 1.35 × ERP 5.50%)

Cost of debt (Rd)6.66%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)80.23%

Debt weight (D/V)19.77%

Results

Current Price$67.46

Implied Near-term FCF Growth8.3%

Historical Revenue Growth13.4%

Historical Earnings Growth-83.9%

Base FCF (TTM)$319.00M

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$67.46

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $488.00M

Target EV/EBITDA multipleCurrent: 11.1×

Net Debt($B)Default: $645.00M

Results

Implied Equity Value / share$66.06

Current Price$67.46

Upside / Downside-2.1%

Implied EV$5.41B

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

Mult \ Net Debt	-$1.35B	-$355.00M	$645.00M	$1.65B	$2.65B
7.1x	$66.73	$52.86	$38.99	$25.13	$11.26
9.1x	$80.26	$66.40	$52.53	$38.66	$24.79
11.1x	$93.80	$79.93	$66.06	$52.20	$38.33
13.1x	$107.33	$93.46	$79.60	$65.73	$51.86
15.1x	$120.87	$107.00	$93.13	$79.26	$65.40

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