FTS

FTS — Valuation Models

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

Valuation Summary

ModelIntrinsic Valuevs Price ($57.72)
DCF$-158.76-375.1%
Graham Number$42.33-26.7%
Reverse DCF
DDM$38.11-34.0%
EV/EBITDA$64.97+12.6%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: -$2.63B
Rev: 4.4% / EPS: 5.0%
Default: 9% (no SEC data)

Results

Intrinsic Value / share$-158.76
Current Price$57.72
Upside / Downside-375.1%
Net Debt (used)$34.33B
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term-3.0%1.0%5.0%9.0%13.0%
7.0%$-159.55$-178.13$-199.75$-224.77$-253.59
8.0%$-143.20$-158.15$-175.53$-195.61$-218.71
9.0%$-131.86$-144.32$-158.76$-175.44$-194.60
10.0%$-123.55$-134.17$-146.48$-160.66$-176.94
11.0%$-117.18$-126.41$-137.08$-149.37$-163.46

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $2.49
Yahoo: $31.98

Results

Graham Number$42.33
Current Price$57.72
Margin of Safety-26.7%
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$57.72
Implied Near-term FCF Growth
Historical Revenue Growth4.4%
Historical Earnings Growth5.0%
Base FCF (TTM)-$2.63B
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: $1.85

Results

DDM Intrinsic Value / share$38.11
Current Price$57.72
Upside / Downside-34.0%
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: $5.63B
Current: 12.0×
Default: $34.33B

Results

Implied Equity Value / share$64.97
Current Price$57.72
Upside / Downside+12.6%
Implied EV$67.29B
Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)
Mult \ Net Debt$16.33B$25.33B$34.33B$43.33B$52.33B
8.0x$56.07$38.34$20.60$2.86$-14.88
10.0x$78.26$60.52$42.79$25.05$7.31
12.0x$100.45$82.71$64.97$47.24$29.50
14.0x$122.64$104.90$87.16$69.42$51.69
16.0x$144.82$127.09$109.35$91.61$73.87