LLY — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($1051.99)
DCF	$419.57	-60.1%
Graham Number	$123.69	-88.2%
Reverse DCF	—	implied g: 69.5%
DDM	$128.34	-87.8%
EV/EBITDA	$996.30	-5.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $1.95B

Near-term growth (yrs 1–5)(%)Rev: 42.6% / EPS: 51.4%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.19%

Computed WACC: 6.19%

Cost of equity (Re)6.47%(Rf 4.30% + β 0.39 × 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)95.77%

Debt weight (D/V)4.23%

Results

Intrinsic Value / share$885.61

Current Price$1051.99

Upside / Downside-15.8%

Net Debt (used)$36.60B

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

WACC \ Near-term	43.4%	47.4%	51.4%	55.4%	59.4%
7.0%	$518.36	$599.34	$689.53	$789.69	$900.64
8.0%	$395.97	$458.93	$529.03	$606.87	$693.07
9.0%	$312.49	$363.16	$419.57	$482.19	$551.53
10.0%	$252.26	$294.08	$340.61	$392.26	$449.44
11.0%	$207.01	$242.17	$281.30	$324.72	$372.77

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $22.93

Book Value / share($)Yahoo: $29.66

Results

Graham Number$123.69

Current Price$1051.99

Margin of Safety-88.2%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.19%

Terminal growth rate(%)

Computed WACC: 6.19%

Cost of equity (Re)6.47%(Rf 4.30% + β 0.39 × 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)95.77%

Debt weight (D/V)4.23%

Results

Current Price$1051.99

Implied Near-term FCF Growth54.7%

Historical Revenue Growth42.6%

Historical Earnings Growth51.4%

Base FCF (TTM)$1.95B

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: $6.23

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$128.34

Current Price$1051.99

Upside / Downside-87.8%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $31.69B

Target EV/EBITDA multipleCurrent: 30.8×

Net Debt($B)Default: $36.60B

Results

Implied Equity Value / share$996.30

Current Price$1051.99

Upside / Downside-5.3%

Implied EV$976.46B

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

Mult \ Net Debt	$18.60B	$27.60B	$36.60B	$45.60B	$54.60B
26.8x	$880.99	$871.45	$861.91	$852.37	$842.83
28.8x	$948.19	$938.65	$929.11	$919.56	$910.02
30.8x	$1015.38	$1005.84	$996.30	$986.76	$977.22
32.8x	$1082.57	$1073.03	$1063.49	$1053.95	$1044.41
34.8x	$1149.76	$1140.22	$1130.68	$1121.14	$1111.60

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