HWKN — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($151.56)
DCF	$56.70	-62.6%
Graham Number	$47.15	-68.9%
Reverse DCF	—	implied g: 22.9%
DDM	$15.66	-89.7%
EV/EBITDA	$147.24	-2.9%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $69.95M

Near-term growth (yrs 1–5)(%)Rev: 7.9% / EPS: -4.2%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.08%

Computed WACC: 8.08%

Cost of equity (Re)8.79%(Rf 4.30% + β 0.82 × 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)91.92%

Debt weight (D/V)8.08%

Results

Intrinsic Value / share$68.82

Current Price$151.56

Upside / Downside-54.6%

Net Debt (used)$270.08M

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

WACC \ Near-term	-0.1%	3.9%	7.9%	11.9%	15.9%
7.0%	$58.58	$72.77	$89.22	$108.20	$129.99
8.0%	$45.50	$56.88	$70.06	$85.24	$102.65
9.0%	$36.46	$45.90	$56.82	$69.38	$83.78
10.0%	$29.84	$37.86	$47.13	$57.79	$69.99
11.0%	$24.78	$31.73	$39.74	$48.95	$59.47

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $3.95

Book Value / share($)Yahoo: $25.02

Results

Graham Number$47.15

Current Price$151.56

Margin of Safety-68.9%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.08%

Terminal growth rate(%)

Computed WACC: 8.08%

Cost of equity (Re)8.79%(Rf 4.30% + β 0.82 × 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)91.92%

Debt weight (D/V)8.08%

Results

Current Price$151.56

Implied Near-term FCF Growth19.8%

Historical Revenue Growth7.9%

Historical Earnings Growth-4.2%

Base FCF (TTM)$69.95M

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: $0.76

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$15.66

Current Price$151.56

Upside / Downside-89.7%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $166.15M

Target EV/EBITDA multipleCurrent: 20.1×

Net Debt($B)Default: $270.08M

Results

Implied Equity Value / share$147.24

Current Price$151.56

Upside / Downside-2.9%

Implied EV$3.35B

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

Mult \ Net Debt	-$1.73B	-$729.92M	$270.08M	$1.27B	$2.27B
16.1x	$211.13	$163.28	$115.44	$67.60	$19.76
18.1x	$227.02	$179.18	$131.34	$83.50	$35.66
20.1x	$242.92	$195.08	$147.24	$99.40	$51.55
22.1x	$258.82	$210.98	$163.14	$115.29	$67.45
24.1x	$274.72	$226.88	$179.03	$131.19	$83.35

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