ILMN — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($128.97)
DCF	$5719.73	+4334.9%
Graham Number	$46.76	-63.7%
Reverse DCF	—	implied g: 11.9%
DDM	—	—
EV/EBITDA	$128.97	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $786.00M

Near-term growth (yrs 1–5)(%)Rev: 5.0% / EPS: 86.4%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 11.13%

Computed WACC: 11.13%

Cost of equity (Re)12.57%(Rf 4.30% + β 1.50 × 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)88.54%

Debt weight (D/V)11.46%

Results

Intrinsic Value / share$3807.96

Current Price$128.97

Upside / Downside+2852.6%

Net Debt (used)$920.00M

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

WACC \ Near-term	78.4%	82.4%	86.4%	90.4%	94.4%
7.0%	$7486.55	$8361.08	$9315.55	$10355.33	$11486.02
8.0%	$5766.71	$6439.68	$7174.12	$7974.16	$8844.11
9.0%	$4598.60	$5134.70	$5719.73	$6356.98	$7049.86
10.0%	$3759.85	$4197.69	$4675.47	$5195.85	$5761.64
11.0%	$3132.88	$3497.30	$3894.92	$4327.97	$4798.77

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $5.46

Book Value / share($)Yahoo: $17.80

Results

Graham Number$46.76

Current Price$128.97

Margin of Safety-63.7%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 11.13%

Terminal growth rate(%)

Computed WACC: 11.13%

Cost of equity (Re)12.57%(Rf 4.30% + β 1.50 × 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)88.54%

Debt weight (D/V)11.46%

Results

Current Price$128.97

Implied Near-term FCF Growth17.5%

Historical Revenue Growth5.0%

Historical Earnings Growth86.4%

Base FCF (TTM)$786.00M

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$128.97

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.14B

Target EV/EBITDA multipleCurrent: 18.1×

Net Debt($B)Default: $920.00M

Results

Implied Equity Value / share$128.97

Current Price$128.97

Upside / Downside+0.0%

Implied EV$20.64B

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

Mult \ Net Debt	-$1.08B	-$80.00M	$920.00M	$1.92B	$2.92B
14.1x	$112.26	$105.71	$99.17	$92.63	$86.09
16.1x	$127.15	$120.61	$114.07	$107.53	$100.99
18.1x	$142.05	$135.51	$128.97	$122.43	$115.89
20.1x	$156.95	$150.41	$143.87	$137.33	$130.79
22.1x	$171.85	$165.31	$158.77	$152.23	$145.69

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