GBTG — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($5.56)
DCF	$14.25	+156.3%
Graham Number	$0.81	-85.5%
Reverse DCF	—	implied g: -0.0%
DDM	—	—
EV/EBITDA	$5.57	+0.2%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $307.88M

Near-term growth (yrs 1–5)(%)Rev: 12.9% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.48%

Computed WACC: 5.48%

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)65.78%

Debt weight (D/V)34.22%

Results

Intrinsic Value / share$35.58

Current Price$5.56

Upside / Downside+540.0%

Net Debt (used)$1.10B

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

WACC \ Near-term	4.9%	8.9%	12.9%	16.9%	20.9%
7.0%	$15.14	$18.45	$22.26	$26.64	$31.63
8.0%	$11.86	$14.50	$17.54	$21.02	$24.99
9.0%	$9.60	$11.78	$14.28	$17.15	$20.42
10.0%	$7.95	$9.79	$11.90	$14.32	$17.08
11.0%	$6.69	$8.27	$10.09	$12.18	$14.55

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.01

Book Value / share($)Yahoo: $2.91

Results

Graham Number$0.81

Current Price$5.56

Margin of Safety-85.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.48%

Terminal growth rate(%)

Computed WACC: 5.48%

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)65.78%

Debt weight (D/V)34.22%

Results

Current Price$5.56

Implied Near-term FCF Growth-11.1%

Historical Revenue Growth12.9%

Historical Earnings Growth—

Base FCF (TTM)$307.88M

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$5.56

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $332.00M

Target EV/EBITDA multipleCurrent: 12.1×

Net Debt($B)Default: $1.10B

Results

Implied Equity Value / share$5.57

Current Price$5.56

Upside / Downside+0.2%

Implied EV$4.02B

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

Mult \ Net Debt	$1.10B	$1.10B	$1.10B	$1.10B	$1.10B
8.1x	$3.03	$3.03	$3.03	$3.03	$3.03
10.1x	$4.30	$4.30	$4.30	$4.30	$4.30
12.1x	$5.57	$5.57	$5.57	$5.57	$5.57
14.1x	$6.84	$6.84	$6.84	$6.84	$6.84
16.1x	$8.11	$8.11	$8.11	$8.11	$8.11

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