KKR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($89.14)
DCF	$-15.02	-116.8%
Graham Number	$40.93	-54.1%
Reverse DCF	—	—
DDM	$15.24	-82.9%
EV/EBITDA	—	—

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: 76.3% / EPS: -2.2%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.16%

Computed WACC: 9.16%

Cost of equity (Re)15.37%(Rf 4.30% + β 2.01 × 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)59.58%

Debt weight (D/V)40.42%

Results

Intrinsic Value / share$-15.02

Current Price$89.14

Upside / Downside-116.8%

Net Debt (used)$13.39B

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

WACC \ Near-term	68.3%	72.3%	76.3%	80.3%	84.3%
7.0%	$-15.02	$-15.02	$-15.02	$-15.02	$-15.02
8.0%	$-15.02	$-15.02	$-15.02	$-15.02	$-15.02
9.0%	$-15.02	$-15.02	$-15.02	$-15.02	$-15.02
10.0%	$-15.02	$-15.02	$-15.02	$-15.02	$-15.02
11.0%	$-15.02	$-15.02	$-15.02	$-15.02	$-15.02

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.34

Book Value / share($)Yahoo: $31.81

Results

Graham Number$40.93

Current Price$89.14

Margin of Safety-54.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.16%

Terminal growth rate(%)

Computed WACC: 9.16%

Cost of equity (Re)15.37%(Rf 4.30% + β 2.01 × 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)59.58%

Debt weight (D/V)40.42%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$89.14

Implied Near-term FCF Growth—

Historical Revenue Growth76.3%

Historical Earnings Growth-2.2%

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: $0.74

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$15.24

Current Price$89.14

Upside / Downside-82.9%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: $13.39B

Results

Implied Equity Value / share$-15.02

Current Price$89.14

Upside / Downside-116.8%

Implied EV$0

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