IRDM — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($24.77)
DCF	$24.95	+0.7%
Graham Number	$10.25	-58.6%
Reverse DCF	—	implied g: 4.9%
DDM	$12.36	-50.1%
EV/EBITDA	$24.77	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $245.67M

Near-term growth (yrs 1–5)(%)Rev: 0.0% / EPS: -24.2%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 4.90%

Computed WACC: 4.90%

Cost of equity (Re)7.83%(Rf 4.30% + β 0.64 × ERP 5.50%)

Cost of debt (Rd)0.84%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)59.21%

Debt weight (D/V)40.79%

Results

Intrinsic Value / share$96.04

Current Price$24.77

Upside / Downside+287.7%

Net Debt (used)$1.69B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$25.30	$33.68	$43.43	$54.72	$67.72
8.0%	$17.93	$24.67	$32.51	$41.57	$51.99
9.0%	$12.82	$18.43	$24.95	$32.47	$41.11
10.0%	$9.07	$13.86	$19.41	$25.81	$33.15
11.0%	$6.19	$10.36	$15.17	$20.71	$27.07

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.06

Book Value / share($)Yahoo: $4.41

Results

Graham Number$10.25

Current Price$24.77

Margin of Safety-58.6%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 4.90%

Terminal growth rate(%)

Computed WACC: 4.90%

Cost of equity (Re)7.83%(Rf 4.30% + β 0.64 × ERP 5.50%)

Cost of debt (Rd)0.84%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)59.21%

Debt weight (D/V)40.79%

Results

Current Price$24.77

Implied Near-term FCF Growth-9.7%

Historical Revenue Growth0.0%

Historical Earnings Growth-24.2%

Base FCF (TTM)$245.67M

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: $0.60

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$12.36

Current Price$24.77

Upside / Downside-50.1%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $446.19M

Target EV/EBITDA multipleCurrent: 9.6×

Net Debt($B)Default: $1.69B

Results

Implied Equity Value / share$24.77

Current Price$24.77

Upside / Downside-0.0%

Implied EV$4.29B

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

Mult \ Net Debt	$1.69B	$1.69B	$1.69B	$1.69B	$1.69B
5.6x	$7.76	$7.76	$7.76	$7.76	$7.76
7.6x	$16.27	$16.27	$16.27	$16.27	$16.27
9.6x	$24.77	$24.77	$24.77	$24.77	$24.77
11.6x	$33.27	$33.27	$33.27	$33.27	$33.27
13.6x	$41.77	$41.77	$41.77	$41.77	$41.77

← Overview Financial Statements ← Companies