HHH — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($71.90)
DCF	$78.67	+9.4%
Graham Number	$56.47	-21.5%
Reverse DCF	—	implied g: 4.2%
DDM	—	—
EV/EBITDA	$73.15	+1.7%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $474.77M

Near-term growth (yrs 1–5)(%)Rev: -36.5% / EPS: -96.9%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.11%

Computed WACC: 5.11%

Cost of equity (Re)11.20%(Rf 4.30% + β 1.25 × 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)45.60%

Debt weight (D/V)54.40%

Results

Intrinsic Value / share$289.60

Current Price$71.90

Upside / Downside+302.8%

Net Debt (used)$3.64B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$79.87	$108.38	$141.54	$179.92	$224.13
8.0%	$54.78	$77.73	$104.38	$135.19	$170.63
9.0%	$37.40	$56.51	$78.67	$104.25	$133.64
10.0%	$24.64	$40.94	$59.82	$81.58	$106.55
11.0%	$14.87	$29.03	$45.41	$64.26	$85.88

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.21

Book Value / share($)Yahoo: $64.13

Results

Graham Number$56.47

Current Price$71.90

Margin of Safety-21.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.11%

Terminal growth rate(%)

Computed WACC: 5.11%

Cost of equity (Re)11.20%(Rf 4.30% + β 1.25 × 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)45.60%

Debt weight (D/V)54.40%

Results

Current Price$71.90

Implied Near-term FCF Growth-9.2%

Historical Revenue Growth-36.5%

Historical Earnings Growth-96.9%

Base FCF (TTM)$474.77M

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$71.90

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $505.08M

Target EV/EBITDA multipleCurrent: 15.9×

Net Debt($B)Default: $3.64B

Results

Implied Equity Value / share$73.15

Current Price$71.90

Upside / Downside+1.7%

Implied EV$8.01B

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

Mult \ Net Debt	$1.64B	$2.64B	$3.64B	$4.64B	$5.64B
11.9x	$72.81	$56.04	$39.27	$22.50	$5.73
13.9x	$89.75	$72.98	$56.21	$39.44	$22.67
15.9x	$106.69	$89.92	$73.15	$56.38	$39.61
17.9x	$123.62	$106.86	$90.09	$73.32	$56.55
19.9x	$140.56	$123.79	$107.03	$90.26	$73.49

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