GD — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($357.05)
DCF	$229.26	-35.8%
Graham Number	$181.69	-49.1%
Reverse DCF	—	implied g: 14.8%
DDM	$123.60	-65.4%
EV/EBITDA	$356.50	-0.2%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $3.36B

Near-term growth (yrs 1–5)(%)Rev: 7.8% / EPS: 0.4%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.89%

Computed WACC: 5.89%

Cost of equity (Re)6.49%(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)90.79%

Debt weight (D/V)9.21%

Results

Intrinsic Value / share$475.47

Current Price$357.05

Upside / Downside+33.2%

Net Debt (used)$7.46B

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

WACC \ Near-term	-0.2%	3.8%	7.8%	11.8%	15.8%
7.0%	$235.55	$287.79	$348.38	$418.28	$498.56
8.0%	$187.50	$229.41	$277.94	$333.86	$398.01
9.0%	$154.27	$189.04	$229.26	$275.55	$328.60
10.0%	$129.92	$159.49	$193.64	$232.91	$277.86
11.0%	$111.32	$136.93	$166.47	$200.39	$239.18

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $15.46

Book Value / share($)Yahoo: $94.90

Results

Graham Number$181.69

Current Price$357.05

Margin of Safety-49.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.89%

Terminal growth rate(%)

Computed WACC: 5.89%

Cost of equity (Re)6.49%(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)90.79%

Debt weight (D/V)9.21%

Results

Current Price$357.05

Implied Near-term FCF Growth3.6%

Historical Revenue Growth7.8%

Historical Earnings Growth0.4%

Base FCF (TTM)$3.36B

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: $6.00

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$123.60

Current Price$357.05

Upside / Downside-65.4%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $6.34B

Target EV/EBITDA multipleCurrent: 16.4×

Net Debt($B)Default: $7.46B

Results

Implied Equity Value / share$356.50

Current Price$357.05

Upside / Downside-0.2%

Implied EV$103.85B

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

Mult \ Net Debt	$3.46B	$5.46B	$7.46B	$9.46B	$11.46B
12.4x	$277.45	$270.05	$262.66	$255.26	$247.86
14.4x	$324.37	$316.98	$309.58	$302.18	$294.79
16.4x	$371.30	$363.90	$356.50	$349.11	$341.71
18.4x	$418.22	$410.83	$403.43	$396.03	$388.64
20.4x	$465.15	$457.75	$450.35	$442.96	$435.56

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