MHO — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($138.77)
DCF	$24.03	-82.7%
Graham Number	$201.89	+45.5%
Reverse DCF	—	implied g: 29.8%
DDM	—	—
EV/EBITDA	$142.17	+2.4%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $54.47M

Near-term growth (yrs 1–5)(%)Rev: -4.8% / EPS: -49.4%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 10.98%

Computed WACC: 10.98%

Cost of equity (Re)14.09%(Rf 4.30% + β 1.78 × 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)77.89%

Debt weight (D/V)22.11%

Results

Intrinsic Value / share$15.27

Current Price$138.77

Upside / Downside-89.0%

Net Debt (used)$336.98M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$24.35	$31.92	$40.73	$50.92	$62.65
8.0%	$17.69	$23.78	$30.86	$39.04	$48.45
9.0%	$13.08	$18.15	$24.03	$30.82	$38.63
10.0%	$9.69	$14.02	$19.03	$24.81	$31.44
11.0%	$7.09	$10.85	$15.20	$20.21	$25.95

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $14.74

Book Value / share($)Yahoo: $122.90

Results

Graham Number$201.89

Current Price$138.77

Margin of Safety+45.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 10.98%

Terminal growth rate(%)

Computed WACC: 10.98%

Cost of equity (Re)14.09%(Rf 4.30% + β 1.78 × 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)77.89%

Debt weight (D/V)22.11%

Results

Current Price$138.77

Implied Near-term FCF Growth36.1%

Historical Revenue Growth-4.8%

Historical Earnings Growth-49.4%

Base FCF (TTM)$54.47M

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$138.77

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $558.39M

Target EV/EBITDA multipleCurrent: 7.2×

Net Debt($B)Default: $336.98M

Results

Implied Equity Value / share$142.17

Current Price$138.77

Upside / Downside+2.4%

Implied EV$4.00B

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

Mult \ Net Debt	-$1.66B	-$663.02M	$336.98M	$1.34B	$2.34B
3.2x	$133.10	$94.30	$55.49	$16.68	$-22.13
5.2x	$176.44	$137.64	$98.83	$60.02	$21.21
7.2x	$219.78	$180.98	$142.17	$103.36	$64.55
9.2x	$263.12	$224.32	$185.51	$146.70	$107.89
11.2x	$306.46	$267.66	$228.85	$190.04	$151.23

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