HURN — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($146.26)
DCF	$186.32	+27.4%
Graham Number	$65.62	-55.1%
Reverse DCF	—	implied g: 7.8%
DDM	—	—
EV/EBITDA	$133.30	-8.9%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $147.47M

Near-term growth (yrs 1–5)(%)Rev: 11.3% / EPS: -6.5%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 4.13%

Computed WACC: 4.13%

Cost of equity (Re)5.03%(Rf 4.30% + β 0.13 × 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)82.09%

Debt weight (D/V)17.91%

Results

Intrinsic Value / share$892.94

Current Price$146.26

Upside / Downside+510.5%

Net Debt (used)$527.35M

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

WACC \ Near-term	3.3%	7.3%	11.3%	15.3%	19.3%
7.0%	$196.23	$240.21	$291.01	$349.40	$416.22
8.0%	$153.61	$188.74	$229.27	$275.81	$329.02
9.0%	$124.18	$153.22	$186.69	$225.07	$268.91
10.0%	$102.67	$127.27	$155.59	$188.03	$225.05
11.0%	$86.28	$107.50	$131.91	$159.84	$191.69

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $5.97

Book Value / share($)Yahoo: $32.06

Results

Graham Number$65.62

Current Price$146.26

Margin of Safety-55.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 4.13%

Terminal growth rate(%)

Computed WACC: 4.13%

Cost of equity (Re)5.03%(Rf 4.30% + β 0.13 × 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)82.09%

Debt weight (D/V)17.91%

Results

Current Price$146.26

Implied Near-term FCF Growth-12.2%

Historical Revenue Growth11.3%

Historical Earnings Growth-6.5%

Base FCF (TTM)$147.47M

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$146.26

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $219.16M

Target EV/EBITDA multipleCurrent: 12.9×

Net Debt($B)Default: $527.35M

Results

Implied Equity Value / share$133.30

Current Price$146.26

Upside / Downside-8.9%

Implied EV$2.83B

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

Mult \ Net Debt	-$1.47B	-$472.65M	$527.35M	$1.53B	$2.53B
8.9x	$198.45	$140.45	$82.45	$24.45	$-33.55
10.9x	$223.87	$165.87	$107.87	$49.88	$-8.12
12.9x	$249.30	$191.30	$133.30	$75.30	$17.30
14.9x	$274.72	$216.72	$158.72	$100.72	$42.72
16.9x	$300.14	$242.14	$184.14	$126.14	$68.14

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