HG — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($31.55)
DCF	$127226046.50	+403252028.4%
Graham Number	$59.65	+89.1%
Reverse DCF	—	implied g: -20.0%
DDM	—	—
EV/EBITDA	$47.12	+49.4%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $840.95M

Near-term growth (yrs 1–5)(%)Rev: 29.4% / EPS: 433.3%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.50%

Computed WACC: 7.50%

Cost of equity (Re)7.35%(Rf 4.30% + β 0.55 × ERP 5.50%)

Cost of debt (Rd)13.47%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)95.22%

Debt weight (D/V)4.78%

Results

Intrinsic Value / share$186168191.14

Current Price$31.55

Upside / Downside+590073406.0%

Net Debt (used)-$1.11B

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

WACC \ Near-term	425.3%	429.3%	433.3%	437.3%	441.3%
7.0%	$199540332.44	$207254021.70	$215204440.35	$223396995.90	$231837177.59
8.0%	$150865876.02	$156697923.21	$162708952.61	$168903052.61	$175284373.42
9.0%	$118058004.63	$122621776.12	$127325606.73	$132172695.74	$137166290.81
10.0%	$94698074.45	$98358806.27	$102131883.15	$106019871.31	$110025375.76
11.0%	$77394436.76	$80386251.44	$83469882.29	$86647426.61	$89921013.38

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $5.55

Book Value / share($)Yahoo: $28.50

Results

Graham Number$59.65

Current Price$31.55

Margin of Safety+89.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.50%

Terminal growth rate(%)

Computed WACC: 7.50%

Cost of equity (Re)7.35%(Rf 4.30% + β 0.55 × ERP 5.50%)

Cost of debt (Rd)13.47%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)95.22%

Debt weight (D/V)4.78%

Results

Current Price$31.55

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth29.4%

Historical Earnings Growth433.3%

Base FCF (TTM)$840.95M

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$31.55

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $867.01M

Target EV/EBITDA multipleCurrent: 2.3×

Net Debt($B)Default: -$1.11B

Results

Implied Equity Value / share$47.12

Current Price$31.55

Upside / Downside+49.4%

Implied EV$2.02B

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

Mult \ Net Debt	-$1.11B	-$1.11B	-$1.11B	-$1.11B	-$1.11B
-1.7x	$-5.18	$-5.18	$-5.18	$-5.18	$-5.18
0.3x	$20.97	$20.97	$20.97	$20.97	$20.97
2.3x	$47.12	$47.12	$47.12	$47.12	$47.12
4.3x	$73.27	$73.27	$73.27	$73.27	$73.27
6.3x	$99.42	$99.42	$99.42	$99.42	$99.42

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