IX

IX — Valuation Models

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

Valuation Summary

ModelIntrinsic Valuevs Price ($34.08)
DCF$-4889.06-14445.8%
Graham Number$40.06+17.5%
Reverse DCF
DDM$20.60-39.6%
EV/EBITDA$161.33+373.4%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: —
Rev: 12.5% / EPS: 36.6%
Default: 9% (no SEC data)

Results

Intrinsic Value / share$-4889.06
Current Price$34.08
Upside / Downside-14445.8%
Net Debt (used)$5.41T
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term28.6%32.6%36.6%40.6%44.6%
7.0%$-4889.06$-4889.06$-4889.06$-4889.06$-4889.06
8.0%$-4889.06$-4889.06$-4889.06$-4889.06$-4889.06
9.0%$-4889.06$-4889.06$-4889.06$-4889.06$-4889.06
10.0%$-4889.06$-4889.06$-4889.06$-4889.06$-4889.06
11.0%$-4889.06$-4889.06$-4889.06$-4889.06$-4889.06

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $2.67
Yahoo: $26.71

Results

Graham Number$40.06
Current Price$34.08
Margin of Safety+17.5%
Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

Default: 9% (no SEC data)

Results

Reverse DCF requires positive TTM free cash flow.
Current Price$34.08
Implied Near-term FCF Growth
Historical Revenue Growth12.5%
Historical Earnings Growth36.6%
Base FCF (TTM)
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

Yahoo: $1.00

Results

DDM Intrinsic Value / share$20.60
Current Price$34.08
Upside / Downside-39.6%
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: $1.07T
Current: 5.2×
Default: $5.41T

Results

Implied Equity Value / share$161.33
Current Price$34.08
Upside / Downside+373.4%
Implied EV$5.58T
Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)
Mult \ Net Debt$2.70T$4.05T$5.41T$6.76T$8.11T
1.2x$-1260.46$-2483.10$-3705.74$-4928.38$-6151.01
3.2x$673.07$-549.57$-1772.20$-2994.84$-4217.48
5.2x$2606.61$1383.97$161.33$-1061.30$-2283.94
7.2x$4540.14$3317.51$2094.87$872.23$-350.41
9.2x$6473.68$5251.04$4028.40$2805.77$1583.13