LBTYB — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($12.65)
DCF	$-1280.39	-10221.7%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$344.81	+2625.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$401.22M

Near-term growth (yrs 1–5)(%)Rev: 9.6% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 2.72%

Computed WACC: 2.72%

Cost of equity (Re)8.91%(Rf 4.30% + β 0.84 × 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)30.47%

Debt weight (D/V)69.53%

Results

Intrinsic Value / share$-23020.05

Current Price$12.65

Upside / Downside-182076.7%

Net Debt (used)$7.39B

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

WACC \ Near-term	1.6%	5.6%	9.6%	13.6%	17.6%
7.0%	$-1304.90	$-1449.15	$-1616.07	$-1808.28	$-2028.60
8.0%	$-1168.60	$-1284.06	$-1417.48	$-1570.96	$-1746.71
9.0%	$-1074.42	$-1170.03	$-1280.39	$-1407.20	$-1552.27
10.0%	$-1005.49	$-1086.63	$-1180.18	$-1287.54	$-1410.25
11.0%	$-952.89	$-1023.03	$-1103.80	$-1196.40	$-1302.13

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-20.86

Book Value / share($)Yahoo: $29.08

Results

Graham Number requires positive EPS and positive Book Value per share. EPS is zero or negative.

Graham Number—

Current Price$12.65

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 2.72%

Terminal growth rate(%)

Computed WACC: 2.72%

Cost of equity (Re)8.91%(Rf 4.30% + β 0.84 × 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)30.47%

Debt weight (D/V)69.53%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$12.65

Implied Near-term FCF Growth—

Historical Revenue Growth9.6%

Historical Earnings Growth—

Base FCF (TTM)-$401.22M

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$12.65

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.11B

Target EV/EBITDA multipleCurrent: 10.6×

Net Debt($B)Default: $7.39B

Results

Implied Equity Value / share$344.81

Current Price$12.65

Upside / Downside+2625.8%

Implied EV$11.86B

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

Mult \ Net Debt	$3.39B	$5.39B	$7.39B	$9.39B	$11.39B
6.6x	$309.71	$155.49	$1.27	$-152.94	$-307.16
8.6x	$481.48	$327.26	$173.04	$18.82	$-135.39
10.6x	$653.25	$499.03	$344.81	$190.59	$36.37
12.6x	$825.01	$670.80	$516.58	$362.36	$208.14
14.6x	$996.78	$842.56	$688.35	$534.13	$379.91

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