MHK — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($119.22)
DCF	$162.72	+36.5%
Graham Number	$134.78	+13.1%
Reverse DCF	—	implied g: 0.6%
DDM	—	—
EV/EBITDA	$119.31	+0.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $660.86M

Near-term growth (yrs 1–5)(%)Rev: 2.4% / EPS: -52.1%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.20%

Computed WACC: 8.20%

Cost of equity (Re)10.93%(Rf 4.30% + β 1.21 × 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)75.00%

Debt weight (D/V)25.00%

Results

Intrinsic Value / share$189.53

Current Price$119.22

Upside / Downside+59.0%

Net Debt (used)$1.60B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$164.35	$202.85	$247.64	$299.49	$359.20
8.0%	$130.47	$161.46	$197.46	$239.06	$286.93
9.0%	$106.99	$132.79	$162.72	$197.27	$236.97
10.0%	$89.76	$111.77	$137.26	$166.66	$200.39
11.0%	$76.56	$95.69	$117.81	$143.27	$172.46

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $5.93

Book Value / share($)Yahoo: $136.15

Results

Graham Number$134.78

Current Price$119.22

Margin of Safety+13.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.20%

Terminal growth rate(%)

Computed WACC: 8.20%

Cost of equity (Re)10.93%(Rf 4.30% + β 1.21 × 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)75.00%

Debt weight (D/V)25.00%

Results

Current Price$119.22

Implied Near-term FCF Growth-1.5%

Historical Revenue Growth2.4%

Historical Earnings Growth-52.1%

Base FCF (TTM)$660.86M

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$119.22

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.37B

Target EV/EBITDA multipleCurrent: 6.5×

Net Debt($B)Default: $1.60B

Results

Implied Equity Value / share$119.31

Current Price$119.22

Upside / Downside+0.1%

Implied EV$8.93B

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

Mult \ Net Debt	$1.60B	$1.60B	$1.60B	$1.60B	$1.60B
2.5x	$30.38	$30.38	$30.38	$30.38	$30.38
4.5x	$74.84	$74.84	$74.84	$74.84	$74.84
6.5x	$119.31	$119.31	$119.31	$119.31	$119.31
8.5x	$163.78	$163.78	$163.78	$163.78	$163.78
10.5x	$208.25	$208.25	$208.25	$208.25	$208.25

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