HIMS — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($16.48)
DCF	$31.06	+88.5%
Graham Number	$5.23	-68.3%
Reverse DCF	—	implied g: 18.2%
DDM	—	—
EV/EBITDA	$17.11	+3.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $110.51M

Near-term growth (yrs 1–5)(%)Rev: 28.4% / EPS: -17.4%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 14.36%

Computed WACC: 14.36%

Cost of equity (Re)18.64%(Rf 4.30% + β 2.61 × 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)77.02%

Debt weight (D/V)22.98%

Results

Intrinsic Value / share$13.32

Current Price$16.48

Upside / Downside-19.2%

Net Debt (used)$543.10M

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

WACC \ Near-term	20.4%	24.4%	28.4%	32.4%	36.4%
7.0%	$35.35	$41.82	$49.18	$57.48	$66.84
8.0%	$27.55	$32.64	$38.43	$44.96	$52.31
9.0%	$22.20	$26.35	$31.06	$36.38	$42.36
10.0%	$18.32	$21.79	$25.72	$30.15	$35.14
11.0%	$15.38	$18.33	$21.68	$25.45	$29.69

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.51

Book Value / share($)Yahoo: $2.38

Results

Graham Number$5.23

Current Price$16.48

Margin of Safety-68.3%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 14.36%

Terminal growth rate(%)

Computed WACC: 14.36%

Cost of equity (Re)18.64%(Rf 4.30% + β 2.61 × 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)77.02%

Debt weight (D/V)22.98%

Results

Current Price$16.48

Implied Near-term FCF Growth32.1%

Historical Revenue Growth28.4%

Historical Earnings Growth-17.4%

Base FCF (TTM)$110.51M

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$16.48

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $175.66M

Target EV/EBITDA multipleCurrent: 24.5×

Net Debt($B)Default: $543.10M

Results

Implied Equity Value / share$17.11

Current Price$16.48

Upside / Downside+3.8%

Implied EV$4.30B

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

Mult \ Net Debt	-$1.46B	-$456.90M	$543.10M	$1.54B	$2.54B
20.5x	$23.02	$18.46	$13.91	$9.35	$4.80
22.5x	$24.62	$20.06	$15.51	$10.95	$6.40
24.5x	$26.22	$21.66	$17.11	$12.55	$8.00
26.5x	$27.82	$23.26	$18.71	$14.15	$9.60
28.5x	$29.42	$24.86	$20.31	$15.75	$11.20

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