IPGP — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($135.14)
DCF	$-92.40	-168.4%
Graham Number	$28.81	-78.7%
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$135.14	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$9.05M

Near-term growth (yrs 1–5)(%)Rev: 17.1% / EPS: 69.3%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.92%

Computed WACC: 9.92%

Cost of equity (Re)9.95%(Rf 4.30% + β 1.03 × 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)99.70%

Debt weight (D/V)0.30%

Results

Intrinsic Value / share$-73.67

Current Price$135.14

Upside / Downside-154.5%

Net Debt (used)-$822.08M

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

WACC \ Near-term	61.3%	65.3%	69.3%	73.3%	77.3%
7.0%	$-122.13	$-140.44	$-160.60	$-182.75	$-207.03
8.0%	$-90.17	$-104.32	$-119.90	$-137.01	$-155.77
9.0%	$-68.43	$-79.75	$-92.21	$-105.90	$-120.90
10.0%	$-52.79	$-62.07	$-72.29	$-83.51	$-95.82
11.0%	$-41.07	$-48.83	$-57.37	$-66.75	$-77.03

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.73

Book Value / share($)Yahoo: $50.52

Results

Graham Number$28.81

Current Price$135.14

Margin of Safety-78.7%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.92%

Terminal growth rate(%)

Computed WACC: 9.92%

Cost of equity (Re)9.95%(Rf 4.30% + β 1.03 × 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)99.70%

Debt weight (D/V)0.30%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$135.14

Implied Near-term FCF Growth—

Historical Revenue Growth17.1%

Historical Earnings Growth69.3%

Base FCF (TTM)-$9.05M

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$135.14

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $89.91M

Target EV/EBITDA multipleCurrent: 54.3×

Net Debt($B)Default: -$822.08M

Results

Implied Equity Value / share$135.14

Current Price$135.14

Upside / Downside+0.0%

Implied EV$4.88B

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

Mult \ Net Debt	-$2.82B	-$1.82B	-$822.08M	$177.92M	$1.18B
50.3x	$174.02	$150.32	$126.62	$102.91	$79.21
52.3x	$178.28	$154.58	$130.88	$107.18	$83.47
54.3x	$182.54	$158.84	$135.14	$111.44	$87.74
56.3x	$186.81	$163.10	$139.40	$115.70	$92.00
58.3x	$191.07	$167.37	$143.66	$119.96	$96.26

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