FTI — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($66.17)
DCF	$89.45	+35.2%
Graham Number	$20.84	-68.5%
Reverse DCF	—	implied g: 10.5%
DDM	$4.12	-93.8%
EV/EBITDA	$67.60	+2.2%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $1.10B

Near-term growth (yrs 1–5)(%)Rev: 6.3% / EPS: 15.7%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.94%

Computed WACC: 7.94%

Cost of equity (Re)8.34%(Rf 4.30% + β 0.73 × 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)95.22%

Debt weight (D/V)4.78%

Results

Intrinsic Value / share$108.89

Current Price$66.17

Upside / Downside+64.6%

Net Debt (used)$302.60M

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

WACC \ Near-term	7.7%	11.7%	15.7%	19.7%	23.7%
7.0%	$95.32	$113.37	$134.13	$157.87	$184.92
8.0%	$76.72	$91.08	$107.57	$126.42	$147.88
9.0%	$63.92	$75.73	$89.29	$104.78	$122.39
10.0%	$54.57	$64.54	$75.97	$89.01	$103.83
11.0%	$47.47	$56.04	$65.85	$77.03	$89.74

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.30

Book Value / share($)Yahoo: $8.39

Results

Graham Number$20.84

Current Price$66.17

Margin of Safety-68.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.94%

Terminal growth rate(%)

Computed WACC: 7.94%

Cost of equity (Re)8.34%(Rf 4.30% + β 0.73 × 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)95.22%

Debt weight (D/V)4.78%

Results

Current Price$66.17

Implied Near-term FCF Growth7.4%

Historical Revenue Growth6.3%

Historical Earnings Growth15.7%

Base FCF (TTM)$1.10B

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: $0.20

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$4.12

Current Price$66.17

Upside / Downside-93.8%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.82B

Target EV/EBITDA multipleCurrent: 15.0×

Net Debt($B)Default: $302.60M

Results

Implied Equity Value / share$67.60

Current Price$66.17

Upside / Downside+2.2%

Implied EV$27.35B

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

Mult \ Net Debt	-$1.70B	-$697.40M	$302.60M	$1.30B	$2.30B
11.0x	$54.37	$51.87	$49.38	$46.88	$44.38
13.0x	$63.49	$60.99	$58.49	$55.99	$53.49
15.0x	$72.60	$70.10	$67.60	$65.10	$62.60
17.0x	$81.72	$79.22	$76.72	$74.22	$71.72
19.0x	$90.83	$88.33	$85.83	$83.33	$80.83

← Overview Financial Statements ← Companies