LPG — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($37.64)
DCF	$10772.44	+28519.7%
Graham Number	$40.21	+6.8%
Reverse DCF	—	implied g: 6.9%
DDM	$50.47	+34.1%
EV/EBITDA	$37.64	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $101.54M

Near-term growth (yrs 1–5)(%)Rev: 47.2% / EPS: 121.6%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.29%

Computed WACC: 7.29%

Cost of equity (Re)8.29%(Rf 4.30% + β 0.73 × ERP 5.50%)

Cost of debt (Rd)6.18%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)70.49%

Debt weight (D/V)29.51%

Results

Intrinsic Value / share$16368.97

Current Price$37.64

Upside / Downside+43388.2%

Net Debt (used)$379.13M

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

WACC \ Near-term	113.6%	117.6%	121.6%	125.6%	129.6%
7.0%	$14785.51	$16221.16	$17766.22	$19426.83	$21209.35
8.0%	$11316.52	$12415.03	$13597.23	$14867.81	$16231.65
9.0%	$8966.00	$9836.09	$10772.44	$11778.77	$12858.93
10.0%	$7282.67	$7989.18	$8749.48	$9566.59	$10443.62
11.0%	$6027.95	$6612.55	$7241.65	$7917.72	$8643.37

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.83

Book Value / share($)Yahoo: $25.40

Results

Graham Number$40.21

Current Price$37.64

Margin of Safety+6.8%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.29%

Terminal growth rate(%)

Computed WACC: 7.29%

Cost of equity (Re)8.29%(Rf 4.30% + β 0.73 × ERP 5.50%)

Cost of debt (Rd)6.18%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)70.49%

Debt weight (D/V)29.51%

Results

Current Price$37.64

Implied Near-term FCF Growth1.8%

Historical Revenue Growth47.2%

Historical Earnings Growth121.6%

Base FCF (TTM)$101.54M

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: $2.45

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$50.47

Current Price$37.64

Upside / Downside+34.1%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $201.80M

Target EV/EBITDA multipleCurrent: 9.9×

Net Debt($B)Default: $379.13M

Results

Implied Equity Value / share$37.64

Current Price$37.64

Upside / Downside-0.0%

Implied EV$1.99B

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

Mult \ Net Debt	-$1.62B	-$620.87M	$379.13M	$1.38B	$2.38B
5.9x	$65.54	$42.15	$18.75	$-4.64	$-28.04
7.9x	$74.99	$51.59	$28.20	$4.80	$-18.59
9.9x	$84.43	$61.03	$37.64	$14.24	$-9.15
11.9x	$93.87	$70.48	$47.08	$23.69	$0.29
13.9x	$103.31	$79.92	$56.52	$33.13	$9.73

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