FUN — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($16.73)
DCF	$-73.39	-538.7%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$19.11	+14.2%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$120.23M

Near-term growth (yrs 1–5)(%)Rev: -5.4% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 1.48%

Computed WACC: 1.48%

Cost of equity (Re)6.22%(Rf 4.30% + β 0.35 × 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)23.83%

Debt weight (D/V)76.17%

Results

Intrinsic Value / share—

Current Price$16.73

Upside / Downside—

Net Debt (used)$5.34B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-73.57	$-77.81	$-82.74	$-88.46	$-95.04
8.0%	$-69.83	$-73.25	$-77.21	$-81.80	$-87.07
9.0%	$-67.25	$-70.09	$-73.39	$-77.19	$-81.57
10.0%	$-65.35	$-67.77	$-70.58	$-73.82	$-77.54
11.0%	$-63.89	$-66.00	$-68.44	$-71.24	$-74.46

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-18.70

Book Value / share($)Yahoo: $5.41

Results

Graham Number requires positive EPS and positive Book Value per share. EPS is zero or negative.

Graham Number—

Current Price$16.73

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 1.48%

Terminal growth rate(%)

Computed WACC: 1.48%

Cost of equity (Re)6.22%(Rf 4.30% + β 0.35 × 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)23.83%

Debt weight (D/V)76.17%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$16.73

Implied Near-term FCF Growth—

Historical Revenue Growth-5.4%

Historical Earnings Growth—

Base FCF (TTM)-$120.23M

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$16.73

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $719.85M

Target EV/EBITDA multipleCurrent: 10.1×

Net Debt($B)Default: $5.34B

Results

Implied Equity Value / share$19.11

Current Price$16.73

Upside / Downside+14.2%

Implied EV$7.28B

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

Mult \ Net Debt	$3.34B	$4.34B	$5.34B	$6.34B	$7.34B
6.1x	$10.45	$0.59	$-9.26	$-19.12	$-28.97
8.1x	$24.63	$14.78	$4.93	$-4.93	$-14.78
10.1x	$38.82	$28.97	$19.11	$9.26	$-0.60
12.1x	$53.01	$43.16	$33.30	$23.45	$13.59
14.1x	$67.20	$57.34	$47.49	$37.63	$27.78

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