MGY — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($28.55)
DCF	$21.12	-26.0%
Graham Number	$20.41	-28.5%
Reverse DCF	—	implied g: 10.0%
DDM	$12.77	-55.3%
EV/EBITDA	$28.88	+1.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $226.26M

Near-term growth (yrs 1–5)(%)Rev: -2.8% / EPS: -17.0%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.63%

Computed WACC: 8.63%

Cost of equity (Re)9.30%(Rf 4.30% + β 0.91 × 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)92.77%

Debt weight (D/V)7.23%

Results

Intrinsic Value / share$22.46

Current Price$28.55

Upside / Downside-21.3%

Net Debt (used)$152.78M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$21.30	$25.78	$30.99	$37.03	$43.97
8.0%	$17.36	$20.97	$25.16	$30.00	$35.57
9.0%	$14.63	$17.63	$21.12	$25.13	$29.75
10.0%	$12.63	$15.19	$18.15	$21.57	$25.50
11.0%	$11.09	$13.32	$15.89	$18.85	$22.25

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.73

Book Value / share($)Yahoo: $10.70

Results

Graham Number$20.41

Current Price$28.55

Margin of Safety-28.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.63%

Terminal growth rate(%)

Computed WACC: 8.63%

Cost of equity (Re)9.30%(Rf 4.30% + β 0.91 × 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)92.77%

Debt weight (D/V)7.23%

Results

Current Price$28.55

Implied Near-term FCF Growth8.9%

Historical Revenue Growth-2.8%

Historical Earnings Growth-17.0%

Base FCF (TTM)$226.26M

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: $0.62

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$12.77

Current Price$28.55

Upside / Downside-55.3%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $883.74M

Target EV/EBITDA multipleCurrent: 6.1×

Net Debt($B)Default: $152.78M

Results

Implied Equity Value / share$28.88

Current Price$28.55

Upside / Downside+1.1%

Implied EV$5.38B

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

Mult \ Net Debt	-$1.85B	-$847.22M	$152.78M	$1.15B	$2.15B
2.1x	$20.39	$14.86	$9.33	$3.80	$-1.72
4.1x	$30.16	$24.63	$19.10	$13.58	$8.05
6.1x	$39.93	$34.40	$28.88	$23.35	$17.82
8.1x	$49.70	$44.17	$38.65	$33.12	$27.59
10.1x	$59.47	$53.95	$48.42	$42.89	$37.36

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