INGR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($116.97)
DCF	$4804.46	+4007.4%
Graham Number	$130.66	+11.7%
Reverse DCF	—	implied g: 9.8%
DDM	$67.57	-42.2%
EV/EBITDA	$117.42	+0.4%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $357.88M

Near-term growth (yrs 1–5)(%)Rev: -2.4% / EPS: 80.1%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.36%

Computed WACC: 6.36%

Cost of equity (Re)8.05%(Rf 4.30% + β 0.68 × 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)79.04%

Debt weight (D/V)20.96%

Results

Intrinsic Value / share$9473.71

Current Price$116.97

Upside / Downside+7999.3%

Net Debt (used)$938.00M

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

WACC \ Near-term	72.1%	76.1%	80.1%	84.1%	88.1%
7.0%	$6234.30	$6990.92	$7819.26	$8724.30	$9711.25
8.0%	$4807.67	$5390.70	$6028.96	$6726.26	$7486.62
9.0%	$3838.15	$4303.25	$4812.36	$5368.52	$5974.94
10.0%	$3141.56	$3521.95	$3938.29	$4393.08	$4888.93
11.0%	$2620.49	$2937.54	$3284.51	$3663.50	$4076.67

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $11.18

Book Value / share($)Yahoo: $67.87

Results

Graham Number$130.66

Current Price$116.97

Margin of Safety+11.7%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.36%

Terminal growth rate(%)

Computed WACC: 6.36%

Cost of equity (Re)8.05%(Rf 4.30% + β 0.68 × 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)79.04%

Debt weight (D/V)20.96%

Results

Current Price$116.97

Implied Near-term FCF Growth1.1%

Historical Revenue Growth-2.4%

Historical Earnings Growth80.1%

Base FCF (TTM)$357.88M

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: $3.28

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$67.57

Current Price$116.97

Upside / Downside-42.2%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.26B

Target EV/EBITDA multipleCurrent: 6.6×

Net Debt($B)Default: $938.00M

Results

Implied Equity Value / share$117.42

Current Price$116.97

Upside / Downside+0.4%

Implied EV$8.33B

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

Mult \ Net Debt	-$1.06B	-$62.00M	$938.00M	$1.94B	$2.94B
2.6x	$69.00	$53.11	$37.23	$21.34	$5.45
4.6x	$109.10	$93.21	$77.32	$61.44	$45.55
6.6x	$149.20	$133.31	$117.42	$101.54	$85.65
8.6x	$189.30	$173.41	$157.52	$141.63	$125.75
10.6x	$229.39	$213.51	$197.62	$181.73	$165.85

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