HAYW — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($15.65)
DCF	$40.15	+156.5%
Graham Number	$10.11	-35.4%
Reverse DCF	—	implied g: 9.3%
DDM	—	—
EV/EBITDA	$16.01	+2.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $177.52M

Near-term growth (yrs 1–5)(%)Rev: 6.8% / EPS: 24.1%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.03%

Computed WACC: 9.03%

Cost of equity (Re)10.50%(Rf 4.30% + β 1.13 × ERP 5.50%)

Cost of debt (Rd)5.21%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)76.92%

Debt weight (D/V)23.08%

Results

Intrinsic Value / share$39.84

Current Price$15.65

Upside / Downside+154.6%

Net Debt (used)$619.28M

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

WACC \ Near-term	16.1%	20.1%	24.1%	28.1%	32.1%
7.0%	$44.72	$53.13	$62.71	$73.58	$85.88
8.0%	$35.09	$41.72	$49.29	$57.86	$67.55
9.0%	$28.47	$33.90	$40.07	$47.07	$54.97
10.0%	$23.66	$28.21	$33.38	$39.23	$45.84
11.0%	$20.02	$23.90	$28.31	$33.31	$38.94

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.62

Book Value / share($)Yahoo: $7.33

Results

Graham Number$10.11

Current Price$15.65

Margin of Safety-35.4%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.03%

Terminal growth rate(%)

Computed WACC: 9.03%

Cost of equity (Re)10.50%(Rf 4.30% + β 1.13 × ERP 5.50%)

Cost of debt (Rd)5.21%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)76.92%

Debt weight (D/V)23.08%

Results

Current Price$15.65

Implied Near-term FCF Growth9.4%

Historical Revenue Growth6.8%

Historical Earnings Growth24.1%

Base FCF (TTM)$177.52M

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$15.65

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $297.72M

Target EV/EBITDA multipleCurrent: 13.7×

Net Debt($B)Default: $619.28M

Results

Implied Equity Value / share$16.01

Current Price$15.65

Upside / Downside+2.3%

Implied EV$4.09B

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

Mult \ Net Debt	-$1.38B	-$380.72M	$619.28M	$1.62B	$2.62B
9.7x	$19.74	$15.13	$10.51	$5.90	$1.29
11.7x	$22.48	$17.87	$13.26	$8.65	$4.04
13.7x	$25.23	$20.62	$16.01	$11.39	$6.78
15.7x	$27.97	$23.36	$18.75	$14.14	$9.53
17.7x	$30.72	$26.11	$21.50	$16.89	$12.28

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