IDA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($143.24)
DCF	$-418.72	-392.3%
Graham Number	$92.34	-35.5%
Reverse DCF	—	—
DDM	$71.69	-50.0%
EV/EBITDA	$145.63	+1.7%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$738.81M

Near-term growth (yrs 1–5)(%)Rev: 1.8% / EPS: 11.7%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.49%

Computed WACC: 6.49%

Cost of equity (Re)7.59%(Rf 4.30% + β 0.60 × ERP 5.50%)

Cost of debt (Rd)5.27%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)67.84%

Debt weight (D/V)32.16%

Results

Intrinsic Value / share$-662.03

Current Price$143.24

Upside / Downside-562.2%

Net Debt (used)$3.45B

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

WACC \ Near-term	3.7%	7.7%	11.7%	15.7%	19.7%
7.0%	$-435.69	$-507.59	$-590.59	$-685.94	$-795.01
8.0%	$-365.62	$-423.03	$-489.22	$-565.19	$-652.01
9.0%	$-317.26	$-364.69	$-419.31	$-481.95	$-553.47
10.0%	$-281.91	$-322.07	$-368.27	$-421.20	$-481.57
11.0%	$-254.98	$-289.61	$-329.42	$-374.98	$-426.90

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $5.82

Book Value / share($)Yahoo: $65.11

Results

Graham Number$92.34

Current Price$143.24

Margin of Safety-35.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.49%

Terminal growth rate(%)

Computed WACC: 6.49%

Cost of equity (Re)7.59%(Rf 4.30% + β 0.60 × ERP 5.50%)

Cost of debt (Rd)5.27%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)67.84%

Debt weight (D/V)32.16%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$143.24

Implied Near-term FCF Growth—

Historical Revenue Growth1.8%

Historical Earnings Growth11.7%

Base FCF (TTM)-$738.81M

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: $3.48

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$71.69

Current Price$143.24

Upside / Downside-50.0%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $606.39M

Target EV/EBITDA multipleCurrent: 18.7×

Net Debt($B)Default: $3.45B

Results

Implied Equity Value / share$145.63

Current Price$143.24

Upside / Downside+1.7%

Implied EV$11.32B

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

Mult \ Net Debt	$1.45B	$2.45B	$3.45B	$4.45B	$5.45B
14.7x	$137.75	$119.25	$100.75	$82.24	$63.74
16.7x	$160.19	$141.69	$123.19	$104.68	$86.18
18.7x	$182.63	$164.13	$145.63	$127.13	$108.62
20.7x	$205.07	$186.57	$168.07	$149.57	$131.06
22.7x	$227.51	$209.01	$190.51	$172.01	$153.50

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