JBSS — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($80.68)
DCF	$247.40	+206.6%
Graham Number	$65.33	-19.0%
Reverse DCF	—	implied g: 13.0%
DDM	$18.54	-77.0%
EV/EBITDA	$106.48	+32.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $28.78M

Near-term growth (yrs 1–5)(%)Rev: 4.6% / EPS: 31.9%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.79%

Computed WACC: 5.79%

Cost of equity (Re)6.24%(Rf 4.30% + β 0.35 × 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)92.82%

Debt weight (D/V)7.18%

Results

Intrinsic Value / share$558.94

Current Price$80.68

Upside / Downside+592.8%

Net Debt (used)$70.58M

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

WACC \ Near-term	23.9%	27.9%	31.9%	35.9%	39.9%
7.0%	$284.43	$333.21	$388.39	$450.57	$520.42
8.0%	$223.37	$261.67	$304.97	$353.75	$408.52
9.0%	$181.55	$212.68	$247.85	$287.46	$331.92
10.0%	$151.23	$177.17	$206.47	$239.44	$276.43
11.0%	$128.34	$150.37	$175.23	$203.20	$234.57

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $5.99

Book Value / share($)Yahoo: $31.67

Results

Graham Number$65.33

Current Price$80.68

Margin of Safety-19.0%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.79%

Terminal growth rate(%)

Computed WACC: 5.79%

Cost of equity (Re)6.24%(Rf 4.30% + β 0.35 × 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)92.82%

Debt weight (D/V)7.18%

Results

Current Price$80.68

Implied Near-term FCF Growth1.6%

Historical Revenue Growth4.6%

Historical Earnings Growth31.9%

Base FCF (TTM)$28.78M

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: $0.90

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$18.54

Current Price$80.68

Upside / Downside-77.0%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $125.54M

Target EV/EBITDA multipleCurrent: 8.3×

Net Debt($B)Default: $70.58M

Results

Implied Equity Value / share$106.48

Current Price$80.68

Upside / Downside+32.0%

Implied EV$1.04B

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

Mult \ Net Debt	-$1.93B	-$929.41M	$70.58M	$1.07B	$2.07B
4.3x	$271.27	$161.26	$51.24	$-58.78	$-168.80
6.3x	$298.90	$188.88	$78.86	$-31.16	$-141.18
8.3x	$326.52	$216.50	$106.48	$-3.53	$-113.55
10.3x	$354.14	$244.13	$134.11	$24.09	$-85.93
12.3x	$381.77	$271.75	$161.73	$51.71	$-58.31

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