ICLR

ICLR — Valuation Models

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

Valuation Summary

ModelIntrinsic Valuevs Price ($110.20)
DCF$172.12+56.2%
Graham Number$142.86+29.6%
Reverse DCFimplied g: -0.8%
DDM
EV/EBITDA$110.19-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: $925.35M
Rev: 0.6% / EPS: -98.7%
Default: 9% (no SEC data)

Results

Intrinsic Value / share$172.12
Current Price$110.20
Upside / Downside+56.2%
Net Debt (used)$3.10B
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term-3.0%1.0%5.0%9.0%13.0%
7.0%$173.95$217.34$267.82$326.25$393.55
8.0%$135.77$170.69$211.26$258.16$312.10
9.0%$109.31$138.39$172.12$211.06$255.80
10.0%$89.88$114.69$143.43$176.55$214.57
11.0%$75.01$96.57$121.50$150.20$183.10

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $7.42
Yahoo: $122.25

Results

Graham Number$142.86
Current Price$110.20
Margin of Safety+29.6%
Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

Default: 9% (no SEC data)

Results

Current Price$110.20
Implied Near-term FCF Growth-0.8%
Historical Revenue Growth0.6%
Historical Earnings Growth-98.7%
Base FCF (TTM)$925.35M
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

Yahoo: —

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$110.20
Upside / Downside
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: $1.52B
Current: 7.6×
Default: $3.10B

Results

Implied Equity Value / share$110.19
Current Price$110.20
Upside / Downside-0.0%
Implied EV$11.52B
Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)
Mult \ Net Debt$1.10B$2.10B$3.10B$4.10B$5.10B
3.6x$56.65$43.55$30.45$17.36$4.26
5.6x$96.51$83.42$70.32$57.23$44.13
7.6x$136.38$123.29$110.19$97.10$84.00
9.6x$176.25$163.16$150.06$136.96$123.87
11.6x$216.12$203.02$189.93$176.83$163.74