KO — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($80.22)
DCF	$-13.43	-116.7%
Graham Number	$22.62	-71.8%
Reverse DCF	—	—
DDM	$42.44	-47.1%
EV/EBITDA	$80.71	+0.6%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$1.46B

Near-term growth (yrs 1–5)(%)Rev: 2.4% / EPS: 3.6%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.76%

Computed WACC: 5.76%

Cost of equity (Re)6.13%(Rf 4.30% + β 0.33 × ERP 5.50%)

Cost of debt (Rd)3.92%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)87.81%

Debt weight (D/V)12.19%

Results

Intrinsic Value / share$-19.43

Current Price$80.22

Upside / Downside-124.2%

Net Debt (used)$32.11B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-13.48	$-14.70	$-16.11	$-17.75	$-19.64
8.0%	$-12.41	$-13.39	$-14.53	$-15.84	$-17.36
9.0%	$-11.67	$-12.49	$-13.43	$-14.52	$-15.78
10.0%	$-11.13	$-11.82	$-12.63	$-13.56	$-14.62
11.0%	$-10.71	$-11.31	$-12.01	$-12.82	$-13.74

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $3.04

Book Value / share($)Yahoo: $7.48

Results

Graham Number$22.62

Current Price$80.22

Margin of Safety-71.8%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.76%

Terminal growth rate(%)

Computed WACC: 5.76%

Cost of equity (Re)6.13%(Rf 4.30% + β 0.33 × ERP 5.50%)

Cost of debt (Rd)3.92%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)87.81%

Debt weight (D/V)12.19%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$80.22

Implied Near-term FCF Growth—

Historical Revenue Growth2.4%

Historical Earnings Growth3.6%

Base FCF (TTM)-$1.46B

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: $2.06

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$42.44

Current Price$80.22

Upside / Downside-47.1%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $16.08B

Target EV/EBITDA multipleCurrent: 23.6×

Net Debt($B)Default: $32.11B

Results

Implied Equity Value / share$80.71

Current Price$80.22

Upside / Downside+0.6%

Implied EV$379.22B

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

Mult \ Net Debt	$16.11B	$24.11B	$32.11B	$40.11B	$48.11B
19.6x	$69.48	$67.62	$65.76	$63.90	$62.04
21.6x	$76.95	$75.09	$73.23	$71.37	$69.51
23.6x	$84.43	$82.57	$80.71	$78.85	$76.99
25.6x	$91.91	$90.05	$88.19	$86.33	$84.47
27.6x	$99.38	$97.52	$95.66	$93.80	$91.94

← Overview Financial Statements ← Companies