GBLI — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($28.50)
DCF	$118.46	+315.7%
Graham Number	$46.19	+62.1%
Reverse DCF	—	implied g: -20.0%
DDM	$28.84	+1.2%
EV/EBITDA	$37.27	+30.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $67.27M

Near-term growth (yrs 1–5)(%)Rev: 2.2% / EPS: -6.5%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.37%

Computed WACC: 6.37%

Cost of equity (Re)6.51%(Rf 4.30% + β 0.40 × 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)97.86%

Debt weight (D/V)2.14%

Results

Intrinsic Value / share$195.61

Current Price$28.50

Upside / Downside+586.4%

Net Debt (used)-$66.44M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$119.43	$142.30	$168.91	$199.71	$235.19
8.0%	$99.30	$117.71	$139.10	$163.82	$192.25
9.0%	$85.35	$100.68	$118.46	$138.99	$162.57
10.0%	$75.11	$88.19	$103.34	$120.80	$140.84
11.0%	$67.27	$78.63	$91.78	$106.90	$124.25

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.94

Book Value / share($)Yahoo: $48.88

Results

Graham Number$46.19

Current Price$28.50

Margin of Safety+62.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.37%

Terminal growth rate(%)

Computed WACC: 6.37%

Cost of equity (Re)6.51%(Rf 4.30% + β 0.40 × 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)97.86%

Debt weight (D/V)2.14%

Results

Current Price$28.50

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth2.2%

Historical Earnings Growth-6.5%

Base FCF (TTM)$67.27M

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: $1.40

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$28.84

Current Price$28.50

Upside / Downside+1.2%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $37.64M

Target EV/EBITDA multipleCurrent: 8.7×

Net Debt($B)Default: -$66.44M

Results

Implied Equity Value / share$37.27

Current Price$28.50

Upside / Downside+30.8%

Implied EV$326.06M

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

Mult \ Net Debt	-$2.07B	-$1.07B	-$66.44M	$933.56M	$1.93B
4.7x	$212.90	$117.94	$22.98	$-71.99	$-166.95
6.7x	$220.05	$125.09	$30.12	$-64.84	$-159.80
8.7x	$227.20	$132.24	$37.27	$-57.69	$-152.65
10.7x	$234.35	$139.39	$44.42	$-50.54	$-145.51
12.7x	$241.50	$146.53	$51.57	$-43.39	$-138.36

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