GOOGL — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($302.02)
DCF	$515.21	+70.6%
Graham Number	$91.41	-69.7%
Reverse DCF	—	implied g: 21.2%
DDM	$17.30	-94.3%
EV/EBITDA	$627.54	+107.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $38.09B

Near-term growth (yrs 1–5)(%)Rev: 18.0% / EPS: 31.1%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 10.09%

Computed WACC: 10.09%

Cost of equity (Re)10.27%(Rf 4.30% + β 1.09 × 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)98.20%

Debt weight (D/V)1.80%

Results

Intrinsic Value / share$428.23

Current Price$302.02

Upside / Downside+41.8%

Net Debt (used)-$59.85B

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

WACC \ Near-term	23.1%	27.1%	31.1%	35.1%	39.1%
7.0%	$586.76	$683.57	$793.15	$916.73	$1055.62
8.0%	$466.63	$542.68	$628.72	$725.70	$834.67
9.0%	$384.33	$446.17	$516.10	$594.89	$683.37
10.0%	$324.66	$376.22	$434.48	$500.10	$573.77
11.0%	$279.59	$323.39	$372.86	$428.55	$491.04

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $10.81

Book Value / share($)Yahoo: $34.35

Results

Graham Number$91.41

Current Price$302.02

Margin of Safety-69.7%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 10.09%

Terminal growth rate(%)

Computed WACC: 10.09%

Cost of equity (Re)10.27%(Rf 4.30% + β 1.09 × 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)98.20%

Debt weight (D/V)1.80%

Results

Current Price$302.02

Implied Near-term FCF Growth24.5%

Historical Revenue Growth18.0%

Historical Earnings Growth31.1%

Base FCF (TTM)$38.09B

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: $0.84

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$17.30

Current Price$302.02

Upside / Downside-94.3%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $150.18B

Target EV/EBITDA multipleCurrent: 23.9×

Net Debt($B)Default: -$59.85B

Results

Implied Equity Value / share$627.54

Current Price$302.02

Upside / Downside+107.8%

Implied EV$3.59T

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

Mult \ Net Debt	-$89.85B	-$74.85B	-$59.85B	-$44.85B	-$29.85B
19.9x	$529.51	$526.94	$524.36	$521.79	$519.21
21.9x	$581.10	$578.53	$575.95	$573.37	$570.80
23.9x	$632.69	$630.12	$627.54	$624.96	$622.39
25.9x	$684.28	$681.70	$679.13	$676.55	$673.98
27.9x	$735.87	$733.29	$730.72	$728.14	$725.56

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