JXN — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($111.07)
DCF	$13097889178.80	+11792463372.4%
Graham Number	—	—
Reverse DCF	—	implied g: -17.9%
DDM	$74.16	-33.2%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $1.70B

Near-term growth (yrs 1–5)(%)Rev: 718.8% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.81%

Computed WACC: 8.81%

Cost of equity (Re)12.39%(Rf 4.30% + β 1.47 × ERP 5.50%)

Cost of debt (Rd)4.92%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)57.94%

Debt weight (D/V)42.06%

Results

Intrinsic Value / share$13698379225.48

Current Price$111.07

Upside / Downside+12333104451.6%

Net Debt (used)-$4.00M

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

WACC \ Near-term	710.8%	714.8%	718.8%	722.8%	726.8%
7.0%	$21159017726.47	$21686121833.81	$22223678779.56	$22771843263.93	$23330771505.99
8.0%	$15966846125.40	$16364605034.25	$16770251774.88	$17183903085.80	$17605676851.70
9.0%	$12470414098.80	$12781071366.39	$13097889178.80	$13420958710.97	$13750372033.03
10.0%	$9983385841.24	$10232087313.13	$10485720702.79	$10744359001.69	$11008075917.96
11.0%	$8143134910.13	$8345992832.98	$8552873563.83	$8763836639.47	$8978942181.25

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.23

Book Value / share($)Yahoo: $140.96

Results

Graham Number requires positive EPS and positive Book Value per share. EPS is zero or negative.

Graham Number—

Current Price$111.07

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.81%

Terminal growth rate(%)

Computed WACC: 8.81%

Cost of equity (Re)12.39%(Rf 4.30% + β 1.47 × ERP 5.50%)

Cost of debt (Rd)4.92%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)57.94%

Debt weight (D/V)42.06%

Results

Current Price$111.07

Implied Near-term FCF Growth-18.2%

Historical Revenue Growth718.8%

Historical Earnings Growth—

Base FCF (TTM)$1.70B

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: $3.60

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$74.16

Current Price$111.07

Upside / Downside-33.2%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: -$4.00M

Results

Implied Equity Value / share$0.06

Current Price$111.07

Upside / Downside-99.9%

Implied EV$0

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