KE — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($24.57)
DCF	$101.68	+313.8%
Graham Number	$22.85	-7.0%
Reverse DCF	—	implied g: -10.2%
DDM	—	—
EV/EBITDA	$24.57	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $77.14M

Near-term growth (yrs 1–5)(%)Rev: 15.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 10.52%

Computed WACC: 10.52%

Cost of equity (Re)10.81%(Rf 4.30% + β 1.18 × ERP 5.50%)

Cost of debt (Rd)10.02%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)90.03%

Debt weight (D/V)9.97%

Results

Intrinsic Value / share$80.77

Current Price$24.57

Upside / Downside+228.7%

Net Debt (used)-$40.23M

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

WACC \ Near-term	7.0%	11.0%	15.0%	19.0%	23.0%
7.0%	$108.02	$128.11	$151.22	$177.68	$207.84
8.0%	$87.52	$103.51	$121.88	$142.90	$166.84
9.0%	$73.39	$86.56	$101.68	$118.95	$138.62
10.0%	$63.09	$74.20	$86.95	$101.50	$118.06
11.0%	$55.25	$64.80	$75.75	$88.25	$102.44

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.97

Book Value / share($)Yahoo: $23.92

Results

Graham Number$22.85

Current Price$24.57

Margin of Safety-7.0%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 10.52%

Terminal growth rate(%)

Computed WACC: 10.52%

Cost of equity (Re)10.81%(Rf 4.30% + β 1.18 × ERP 5.50%)

Cost of debt (Rd)10.02%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)90.03%

Debt weight (D/V)9.97%

Results

Current Price$24.57

Implied Near-term FCF Growth-7.1%

Historical Revenue Growth15.0%

Historical Earnings Growth—

Base FCF (TTM)$77.14M

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$24.57

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $98.82M

Target EV/EBITDA multipleCurrent: 5.6×

Net Debt($B)Default: -$40.23M

Results

Implied Equity Value / share$24.57

Current Price$24.57

Upside / Downside-0.0%

Implied EV$554.68M

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

Mult \ Net Debt	-$2.04B	-$1.04B	-$40.23M	$959.77M	$1.96B
1.6x	$90.84	$49.54	$8.24	$-33.05	$-74.35
3.6x	$99.00	$57.70	$16.41	$-24.89	$-66.19
5.6x	$107.17	$65.87	$24.57	$-16.73	$-58.03
7.6x	$115.33	$74.03	$32.73	$-8.57	$-49.87
9.6x	$123.49	$82.19	$40.89	$-0.40	$-41.70

← Overview Financial Statements ← Companies