ICUI — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($146.99)
DCF	$238.89	+62.5%
Graham Number	—	—
Reverse DCF	—	implied g: -1.7%
DDM	—	—
EV/EBITDA	$147.01	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $394.96M

Near-term growth (yrs 1–5)(%)Rev: -14.1% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.76%

Computed WACC: 7.76%

Cost of equity (Re)8.68%(Rf 4.30% + β 0.80 × ERP 5.50%)

Cost of debt (Rd)6.67%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)72.91%

Debt weight (D/V)27.09%

Results

Intrinsic Value / share$305.90

Current Price$146.99

Upside / Downside+108.1%

Net Debt (used)$1.04B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$241.31	$298.60	$365.24	$442.38	$531.23
8.0%	$190.90	$237.01	$290.57	$352.48	$423.70
9.0%	$155.97	$194.36	$238.89	$290.30	$349.37
10.0%	$130.32	$163.08	$201.01	$244.74	$294.94
11.0%	$110.69	$139.15	$172.06	$209.95	$253.38

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.32

Book Value / share($)Yahoo: $86.03

Results

Graham Number requires positive EPS and positive Book Value per share. EPS is zero or negative.

Graham Number—

Current Price$146.99

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.76%

Terminal growth rate(%)

Computed WACC: 7.76%

Cost of equity (Re)8.68%(Rf 4.30% + β 0.80 × ERP 5.50%)

Cost of debt (Rd)6.67%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)72.91%

Debt weight (D/V)27.09%

Results

Current Price$146.99

Implied Near-term FCF Growth-4.9%

Historical Revenue Growth-14.1%

Historical Earnings Growth—

Base FCF (TTM)$394.96M

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$146.99

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $310.08M

Target EV/EBITDA multipleCurrent: 15.0×

Net Debt($B)Default: $1.04B

Results

Implied Equity Value / share$147.01

Current Price$146.99

Upside / Downside+0.0%

Implied EV$4.67B

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

Mult \ Net Debt	$1.04B	$1.04B	$1.04B	$1.04B	$1.04B
11.0x	$96.77	$96.77	$96.77	$96.77	$96.77
13.0x	$121.89	$121.89	$121.89	$121.89	$121.89
15.0x	$147.01	$147.01	$147.01	$147.01	$147.01
17.0x	$172.13	$172.13	$172.13	$172.13	$172.13
19.0x	$197.25	$197.25	$197.25	$197.25	$197.25

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