LYV — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($158.32)
DCF	$104.11	-34.2%
Graham Number	—	—
Reverse DCF	—	implied g: 17.7%
DDM	—	—
EV/EBITDA	$166.73	+5.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $1.11B

Near-term growth (yrs 1–5)(%)Rev: 11.1% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.07%

Computed WACC: 9.07%

Cost of equity (Re)10.60%(Rf 4.30% + β 1.15 × ERP 5.50%)

Cost of debt (Rd)4.58%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)78.13%

Debt weight (D/V)21.87%

Results

Intrinsic Value / share$102.57

Current Price$158.32

Upside / Downside-35.2%

Net Debt (used)$3.31B

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

WACC \ Near-term	3.1%	7.1%	11.1%	15.1%	19.1%
7.0%	$108.93	$132.82	$160.41	$192.13	$228.43
8.0%	$85.87	$104.96	$126.98	$152.27	$181.19
9.0%	$69.95	$85.73	$103.91	$124.78	$148.62
10.0%	$58.30	$71.67	$87.07	$104.71	$124.85
11.0%	$49.42	$60.97	$74.24	$89.43	$106.76

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.24

Book Value / share($)Yahoo: $1.16

Results

Graham Number requires positive EPS and positive Book Value per share. EPS is zero or negative.

Graham Number—

Current Price$158.32

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.07%

Terminal growth rate(%)

Computed WACC: 9.07%

Cost of equity (Re)10.60%(Rf 4.30% + β 1.15 × ERP 5.50%)

Cost of debt (Rd)4.58%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)78.13%

Debt weight (D/V)21.87%

Results

Current Price$158.32

Implied Near-term FCF Growth17.9%

Historical Revenue Growth11.1%

Historical Earnings Growth—

Base FCF (TTM)$1.11B

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$158.32

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.96B

Target EV/EBITDA multipleCurrent: 21.6×

Net Debt($B)Default: $3.31B

Results

Implied Equity Value / share$166.73

Current Price$158.32

Upside / Downside+5.3%

Implied EV$42.46B

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

Mult \ Net Debt	$1.31B	$2.31B	$3.31B	$4.31B	$5.31B
17.6x	$141.80	$137.54	$133.29	$129.03	$124.77
19.6x	$158.52	$154.27	$150.01	$145.75	$141.49
21.6x	$175.25	$170.99	$166.73	$162.47	$158.21
23.6x	$191.97	$187.71	$183.45	$179.19	$174.93
25.6x	$208.69	$204.43	$200.17	$195.91	$191.65

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