KVUE — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($18.19)
DCF	$19.81	+8.9%
Graham Number	$9.80	-46.1%
Reverse DCF	—	implied g: 10.0%
DDM	$17.10	-6.0%
EV/EBITDA	$18.89	+3.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $1.81B

Near-term growth (yrs 1–5)(%)Rev: 3.2% / EPS: 11.2%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.31%

Computed WACC: 6.31%

Cost of equity (Re)6.90%(Rf 4.30% + β 0.47 × ERP 5.50%)

Cost of debt (Rd)4.96%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)80.08%

Debt weight (D/V)19.92%

Results

Intrinsic Value / share$37.95

Current Price$18.19

Upside / Downside+108.6%

Net Debt (used)$7.61B

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

WACC \ Near-term	3.2%	7.2%	11.2%	15.2%	19.2%
7.0%	$20.84	$25.65	$31.21	$37.60	$44.92
8.0%	$16.18	$20.03	$24.46	$29.56	$35.38
9.0%	$12.97	$16.15	$19.81	$24.01	$28.81
10.0%	$10.62	$13.31	$16.41	$19.96	$24.02
11.0%	$8.82	$11.15	$13.82	$16.88	$20.37

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.76

Book Value / share($)Yahoo: $5.62

Results

Graham Number$9.80

Current Price$18.19

Margin of Safety-46.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.31%

Terminal growth rate(%)

Computed WACC: 6.31%

Cost of equity (Re)6.90%(Rf 4.30% + β 0.47 × ERP 5.50%)

Cost of debt (Rd)4.96%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)80.08%

Debt weight (D/V)19.92%

Results

Current Price$18.19

Implied Near-term FCF Growth1.1%

Historical Revenue Growth3.2%

Historical Earnings Growth11.2%

Base FCF (TTM)$1.81B

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: $0.83

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$17.10

Current Price$18.19

Upside / Downside-6.0%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $3.24B

Target EV/EBITDA multipleCurrent: 13.5×

Net Debt($B)Default: $7.61B

Results

Implied Equity Value / share$18.89

Current Price$18.19

Upside / Downside+3.8%

Implied EV$43.82B

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

Mult \ Net Debt	$3.61B	$5.61B	$7.61B	$9.61B	$11.61B
9.5x	$14.21	$13.17	$12.12	$11.08	$10.04
11.5x	$17.59	$16.55	$15.51	$14.46	$13.42
13.5x	$20.98	$19.93	$18.89	$17.85	$16.80
15.5x	$24.36	$23.32	$22.27	$21.23	$20.19
17.5x	$27.74	$26.70	$25.66	$24.61	$23.57

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