IBKR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($69.77)
DCF	$179.74	+157.6%
Graham Number	$24.52	-64.9%
Reverse DCF	—	—
DDM	$6.59	-90.6%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: —

Near-term growth (yrs 1–5)(%)Rev: 15.2% / EPS: 30.3%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.21%

Computed WACC: 9.21%

Cost of equity (Re)11.18%(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)82.33%

Debt weight (D/V)17.67%

Results

Intrinsic Value / share$179.74

Current Price$69.77

Upside / Downside+157.6%

Net Debt (used)-$80.05B

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

WACC \ Near-term	22.3%	26.3%	30.3%	34.3%	38.3%
7.0%	$179.74	$179.74	$179.74	$179.74	$179.74
8.0%	$179.74	$179.74	$179.74	$179.74	$179.74
9.0%	$179.74	$179.74	$179.74	$179.74	$179.74
10.0%	$179.74	$179.74	$179.74	$179.74	$179.74
11.0%	$179.74	$179.74	$179.74	$179.74	$179.74

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.22

Book Value / share($)Yahoo: $12.04

Results

Graham Number$24.52

Current Price$69.77

Margin of Safety-64.9%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.21%

Terminal growth rate(%)

Computed WACC: 9.21%

Cost of equity (Re)11.18%(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)82.33%

Debt weight (D/V)17.67%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$69.77

Implied Near-term FCF Growth—

Historical Revenue Growth15.2%

Historical Earnings Growth30.3%

Base FCF (TTM)—

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: $0.32

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$6.59

Current Price$69.77

Upside / Downside-90.6%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: -$80.05B

Results

Implied Equity Value / share$179.74

Current Price$69.77

Upside / Downside+157.6%

Implied EV$0

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