LAUR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($32.46)
DCF	$2730.50	+8311.9%
Graham Number	$18.80	-42.1%
Reverse DCF	—	implied g: 2.9%
DDM	—	—
EV/EBITDA	$31.38	-3.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $332.07M

Near-term growth (yrs 1–5)(%)Rev: 27.9% / EPS: 88.4%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.21%

Computed WACC: 7.21%

Cost of equity (Re)7.99%(Rf 4.30% + β 0.67 × 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)90.27%

Debt weight (D/V)9.73%

Results

Intrinsic Value / share$4198.10

Current Price$32.46

Upside / Downside+12833.2%

Net Debt (used)$368.77M

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

WACC \ Near-term	80.4%	84.4%	88.4%	92.4%	96.4%
7.0%	$3585.50	$3999.54	$4451.02	$4942.41	$5476.30
8.0%	$2760.58	$3079.07	$3426.32	$3804.26	$4214.87
9.0%	$2200.39	$2454.00	$2730.50	$3031.41	$3358.31
10.0%	$1798.23	$2005.27	$2230.99	$2476.62	$2743.44
11.0%	$1497.68	$1669.93	$1857.70	$2062.02	$2283.96

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.89

Book Value / share($)Yahoo: $8.31

Results

Graham Number$18.80

Current Price$32.46

Margin of Safety-42.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.21%

Terminal growth rate(%)

Computed WACC: 7.21%

Cost of equity (Re)7.99%(Rf 4.30% + β 0.67 × 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)90.27%

Debt weight (D/V)9.73%

Results

Current Price$32.46

Implied Near-term FCF Growth-2.2%

Historical Revenue Growth27.9%

Historical Earnings Growth88.4%

Base FCF (TTM)$332.07M

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$32.46

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $505.60M

Target EV/EBITDA multipleCurrent: 9.9×

Net Debt($B)Default: $368.77M

Results

Implied Equity Value / share$31.38

Current Price$32.46

Upside / Downside-3.3%

Implied EV$4.99B

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

Mult \ Net Debt	-$1.63B	-$631.23M	$368.77M	$1.37B	$2.37B
5.9x	$31.23	$24.44	$17.66	$10.87	$4.09
7.9x	$38.09	$31.30	$24.52	$17.73	$10.95
9.9x	$44.95	$38.17	$31.38	$24.59	$17.81
11.9x	$51.81	$45.03	$38.24	$31.46	$24.67
13.9x	$58.68	$51.89	$45.10	$38.32	$31.53

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