LNT — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($72.33)
DCF	$-163.91	-326.6%
Graham Number	$44.89	-37.9%
Reverse DCF	—	—
DDM	$42.44	-41.3%
EV/EBITDA	$72.33	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$1.37B

Near-term growth (yrs 1–5)(%)Rev: 9.0% / EPS: -5.8%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.25%

Computed WACC: 6.25%

Cost of equity (Re)7.66%(Rf 4.30% + β 0.61 × ERP 5.50%)

Cost of debt (Rd)5.22%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)60.14%

Debt weight (D/V)39.86%

Results

Intrinsic Value / share$-255.54

Current Price$72.33

Upside / Downside-453.3%

Net Debt (used)$11.77B

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

WACC \ Near-term	1.0%	5.0%	9.0%	13.0%	17.0%
7.0%	$-167.59	$-191.59	$-219.38	$-251.39	$-288.11
8.0%	$-145.13	$-164.34	$-186.57	$-212.15	$-241.46
9.0%	$-129.59	$-145.52	$-163.91	$-185.06	$-209.27
10.0%	$-118.22	$-131.75	$-147.35	$-165.26	$-185.75
11.0%	$-109.54	$-121.24	$-134.72	$-150.18	$-167.84

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $3.14

Book Value / share($)Yahoo: $28.52

Results

Graham Number$44.89

Current Price$72.33

Margin of Safety-37.9%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.25%

Terminal growth rate(%)

Computed WACC: 6.25%

Cost of equity (Re)7.66%(Rf 4.30% + β 0.61 × ERP 5.50%)

Cost of debt (Rd)5.22%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)60.14%

Debt weight (D/V)39.86%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$72.33

Implied Near-term FCF Growth—

Historical Revenue Growth9.0%

Historical Earnings Growth-5.8%

Base FCF (TTM)-$1.37B

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: $2.06

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$42.44

Current Price$72.33

Upside / Downside-41.3%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.85B

Target EV/EBITDA multipleCurrent: 16.4×

Net Debt($B)Default: $11.77B

Results

Implied Equity Value / share$72.33

Current Price$72.33

Upside / Downside-0.0%

Implied EV$30.37B

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

Mult \ Net Debt	$5.77B	$8.77B	$11.77B	$14.77B	$17.77B
12.4x	$66.85	$55.18	$43.52	$31.85	$20.18
14.4x	$81.26	$69.59	$57.92	$46.26	$34.59
16.4x	$95.66	$83.99	$72.33	$60.66	$48.99
18.4x	$110.06	$98.40	$86.73	$75.06	$63.40
20.4x	$124.47	$112.80	$101.14	$89.47	$77.80

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