LEA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($127.54)
DCF	$87.52	-31.4%
Graham Number	$135.02	+5.9%
Reverse DCF	—	implied g: 9.4%
DDM	$63.45	-50.3%
EV/EBITDA	$127.93	+0.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $398.94M

Near-term growth (yrs 1–5)(%)Rev: 4.8% / EPS: -2.0%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.53%

Computed WACC: 7.53%

Cost of equity (Re)11.42%(Rf 4.30% + β 1.29 × 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)65.93%

Debt weight (D/V)34.07%

Results

Intrinsic Value / share$127.45

Current Price$127.54

Upside / Downside-0.1%

Net Debt (used)$2.46B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$88.68	$116.22	$148.26	$185.34	$228.05
8.0%	$64.44	$86.61	$112.36	$142.12	$176.36
9.0%	$47.65	$66.11	$87.52	$112.23	$140.62
10.0%	$35.33	$51.07	$69.31	$90.33	$114.46
11.0%	$25.89	$39.57	$55.39	$73.60	$94.48

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $8.15

Book Value / share($)Yahoo: $99.42

Results

Graham Number$135.02

Current Price$127.54

Margin of Safety+5.9%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.53%

Terminal growth rate(%)

Computed WACC: 7.53%

Cost of equity (Re)11.42%(Rf 4.30% + β 1.29 × 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)65.93%

Debt weight (D/V)34.07%

Results

Current Price$127.54

Implied Near-term FCF Growth5.0%

Historical Revenue Growth4.8%

Historical Earnings Growth-2.0%

Base FCF (TTM)$398.94M

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: $3.08

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$63.45

Current Price$127.54

Upside / Downside-50.3%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.64B

Target EV/EBITDA multipleCurrent: 5.5×

Net Debt($B)Default: $2.46B

Results

Implied Equity Value / share$127.93

Current Price$127.54

Upside / Downside+0.3%

Implied EV$9.10B

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

Mult \ Net Debt	$464.30M	$1.46B	$2.46B	$3.46B	$4.46B
1.5x	$39.95	$20.67	$1.40	$-17.88	$-37.16
3.5x	$103.22	$83.94	$64.66	$45.38	$26.10
5.5x	$166.48	$147.21	$127.93	$108.65	$89.37
7.5x	$229.75	$210.47	$191.19	$171.91	$152.63
9.5x	$293.02	$273.74	$254.46	$235.18	$215.90

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