KAI — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($345.83)
DCF	$-21.38	-106.2%
Graham Number	$127.97	-63.0%
Reverse DCF	—	—
DDM	$28.02	-91.9%
EV/EBITDA	$339.19	-1.9%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: —

Near-term growth (yrs 1–5)(%)Rev: 10.9% / EPS: -0.1%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 10.12%

Computed WACC: 10.12%

Cost of equity (Re)11.05%(Rf 4.30% + β 1.23 × 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)91.58%

Debt weight (D/V)8.42%

Results

Intrinsic Value / share$-21.38

Current Price$345.83

Upside / Downside-106.2%

Net Debt (used)$251.82M

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

WACC \ Near-term	2.9%	6.9%	10.9%	14.9%	18.9%
7.0%	$-21.38	$-21.38	$-21.38	$-21.38	$-21.38
8.0%	$-21.38	$-21.38	$-21.38	$-21.38	$-21.38
9.0%	$-21.38	$-21.38	$-21.38	$-21.38	$-21.38
10.0%	$-21.38	$-21.38	$-21.38	$-21.38	$-21.38
11.0%	$-21.38	$-21.38	$-21.38	$-21.38	$-21.38

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $8.65

Book Value / share($)Yahoo: $84.14

Results

Graham Number$127.97

Current Price$345.83

Margin of Safety-63.0%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 10.12%

Terminal growth rate(%)

Computed WACC: 10.12%

Cost of equity (Re)11.05%(Rf 4.30% + β 1.23 × 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)91.58%

Debt weight (D/V)8.42%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$345.83

Implied Near-term FCF Growth—

Historical Revenue Growth10.9%

Historical Earnings Growth-0.1%

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

Annual dividend D0($/share)Yahoo: $1.36

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$28.02

Current Price$345.83

Upside / Downside-91.9%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $207.87M

Target EV/EBITDA multipleCurrent: 20.4×

Net Debt($B)Default: $251.82M

Results

Implied Equity Value / share$339.19

Current Price$345.83

Upside / Downside-1.9%

Implied EV$4.25B

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

Mult \ Net Debt	-$1.75B	-$748.18M	$251.82M	$1.25B	$2.25B
16.4x	$438.40	$353.50	$268.59	$183.69	$98.79
18.4x	$473.70	$388.79	$303.89	$218.99	$134.09
20.4x	$509.00	$424.09	$339.19	$254.29	$169.38
22.4x	$544.29	$459.39	$374.49	$289.58	$204.68
24.4x	$579.59	$494.69	$409.79	$324.88	$239.98

← Overview Financial Statements ← Companies