ITRI — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($93.94)
DCF	$3775.28	+3918.8%
Graham Number	$74.75	-20.4%
Reverse DCF	—	implied g: 4.2%
DDM	—	—
EV/EBITDA	$94.42	+0.5%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $267.76M

Near-term growth (yrs 1–5)(%)Rev: -6.7% / EPS: 73.6%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.71%

Computed WACC: 9.71%

Cost of equity (Re)12.67%(Rf 4.30% + β 1.52 × 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)76.68%

Debt weight (D/V)23.32%

Results

Intrinsic Value / share$3272.64

Current Price$93.94

Upside / Downside+3383.8%

Net Debt (used)$263.38M

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

WACC \ Near-term	65.6%	69.6%	73.6%	77.6%	81.6%
7.0%	$4829.88	$5438.69	$6107.47	$6840.57	$7642.52
8.0%	$3733.23	$4203.12	$4719.27	$5284.99	$5903.80
9.0%	$2987.45	$3362.91	$3775.28	$4227.23	$4721.53
10.0%	$2451.21	$2758.79	$3096.58	$3466.74	$3871.56
11.0%	$2049.77	$2306.55	$2588.52	$2897.48	$3235.34

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $6.50

Book Value / share($)Yahoo: $38.21

Results

Graham Number$74.75

Current Price$93.94

Margin of Safety-20.4%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.71%

Terminal growth rate(%)

Computed WACC: 9.71%

Cost of equity (Re)12.67%(Rf 4.30% + β 1.52 × 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)76.68%

Debt weight (D/V)23.32%

Results

Current Price$93.94

Implied Near-term FCF Growth6.0%

Historical Revenue Growth-6.7%

Historical Earnings Growth73.6%

Base FCF (TTM)$267.76M

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$93.94

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $362.78M

Target EV/EBITDA multipleCurrent: 12.4×

Net Debt($B)Default: $263.38M

Results

Implied Equity Value / share$94.42

Current Price$93.94

Upside / Downside+0.5%

Implied EV$4.51B

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

Mult \ Net Debt	-$1.74B	-$736.62M	$263.38M	$1.26B	$2.26B
8.4x	$106.63	$84.38	$62.13	$39.88	$17.63
10.4x	$122.78	$100.53	$78.28	$56.03	$33.77
12.4x	$138.92	$116.67	$94.42	$72.17	$49.92
14.4x	$155.07	$132.82	$110.57	$88.31	$66.06
16.4x	$171.21	$148.96	$126.71	$104.46	$82.21

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