LBTYK — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($12.32)
DCF	$-112.61	-1014.1%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$29.37	+138.4%

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: 2.67%

Computed WACC: 2.67%

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)29.91%

Debt weight (D/V)70.09%

Results

Intrinsic Value / share$-2606.99

Current Price$12.32

Upside / Downside-21260.7%

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%	$-114.77	$-127.46	$-142.14	$-159.04	$-178.42
8.0%	$-102.78	$-112.94	$-124.67	$-138.17	$-153.63
9.0%	$-94.50	$-102.91	$-112.61	$-123.77	$-136.52
10.0%	$-88.43	$-95.57	$-103.80	$-113.24	$-124.03
11.0%	$-83.81	$-89.98	$-97.08	$-105.23	$-114.52

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$12.32

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 2.67%

Terminal growth rate(%)

Computed WACC: 2.67%

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)29.91%

Debt weight (D/V)70.09%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$12.32

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$12.32

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.11B

Target EV/EBITDA multipleCurrent: 10.5×

Net Debt($B)Default: $7.39B

Results

Implied Equity Value / share$29.37

Current Price$12.32

Upside / Downside+138.4%

Implied EV$11.72B

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

Mult \ Net Debt	$3.39B	$5.39B	$7.39B	$9.39B	$11.39B
6.5x	$26.29	$12.72	$-0.84	$-14.40	$-27.97
8.5x	$41.40	$27.83	$14.27	$0.70	$-12.86
10.5x	$56.50	$42.94	$29.37	$15.81	$2.25
12.5x	$71.61	$58.05	$44.48	$30.92	$17.35
14.5x	$86.72	$73.15	$59.59	$46.03	$32.46

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