KMPR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($32.47)
DCF	$761.20	+2244.3%
Graham Number	$48.53	+49.5%
Reverse DCF	—	implied g: -20.0%
DDM	$26.37	-18.8%
EV/EBITDA	$32.27	-0.6%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $2.61B

Near-term growth (yrs 1–5)(%)Rev: -4.7% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.07%

Computed WACC: 7.07%

Cost of equity (Re)10.59%(Rf 4.30% + β 1.14 × ERP 5.50%)

Cost of debt (Rd)3.30%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)55.92%

Debt weight (D/V)44.08%

Results

Intrinsic Value / share$1094.20

Current Price$32.47

Upside / Downside+3269.9%

Net Debt (used)$1.05B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$767.90	$926.80	$1111.65	$1325.61	$1572.04
8.0%	$628.08	$755.97	$904.54	$1076.25	$1273.80
9.0%	$531.19	$637.69	$761.20	$903.78	$1067.61
10.0%	$460.07	$550.92	$656.14	$777.43	$916.64
11.0%	$405.61	$484.55	$575.83	$680.92	$801.39

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.29

Book Value / share($)Yahoo: $45.71

Results

Graham Number$48.53

Current Price$32.47

Margin of Safety+49.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.07%

Terminal growth rate(%)

Computed WACC: 7.07%

Cost of equity (Re)10.59%(Rf 4.30% + β 1.14 × ERP 5.50%)

Cost of debt (Rd)3.30%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)55.92%

Debt weight (D/V)44.08%

Results

Current Price$32.47

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth-4.7%

Historical Earnings Growth—

Base FCF (TTM)$2.61B

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: $1.28

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$26.37

Current Price$32.47

Upside / Downside-18.8%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $311.50M

Target EV/EBITDA multipleCurrent: 9.4×

Net Debt($B)Default: $1.05B

Results

Implied Equity Value / share$32.27

Current Price$32.47

Upside / Downside-0.6%

Implied EV$2.94B

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

Mult \ Net Debt	$1.05B	$1.05B	$1.05B	$1.05B	$1.05B
5.4x	$11.05	$11.05	$11.05	$11.05	$11.05
7.4x	$21.66	$21.66	$21.66	$21.66	$21.66
9.4x	$32.27	$32.27	$32.27	$32.27	$32.27
11.4x	$42.88	$42.88	$42.88	$42.88	$42.88
13.4x	$53.49	$53.49	$53.49	$53.49	$53.49

← Overview Financial Statements ← Companies