MOG-A — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($340.13)
DCF	$444.90	+30.8%
Graham Number	$108.29	-68.2%
Reverse DCF	—	implied g: 33.6%
DDM	$24.72	-92.7%
EV/EBITDA	$385.31	+13.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $122.75M

Near-term growth (yrs 1–5)(%)Rev: 21.2% / EPS: 38.2%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.11%

Computed WACC: 9.11%

Cost of equity (Re)9.45%(Rf 4.30% + β 0.94 × ERP 5.50%)

Cost of debt (Rd)7.93%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)89.48%

Debt weight (D/V)10.52%

Results

Intrinsic Value / share$434.76

Current Price$340.13

Upside / Downside+27.8%

Net Debt (used)$1.20B

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

WACC \ Near-term	30.2%	34.2%	38.2%	42.2%	46.2%
7.0%	$526.94	$617.69	$719.77	$834.23	$962.17
8.0%	$405.71	$476.69	$556.52	$646.00	$745.98
9.0%	$322.79	$380.28	$444.90	$517.31	$598.20
10.0%	$262.80	$310.53	$364.16	$424.24	$491.33
11.0%	$217.58	$257.97	$303.33	$354.12	$410.82

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $8.01

Book Value / share($)Yahoo: $65.06

Results

Graham Number$108.29

Current Price$340.13

Margin of Safety-68.2%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.11%

Terminal growth rate(%)

Computed WACC: 9.11%

Cost of equity (Re)9.45%(Rf 4.30% + β 0.94 × ERP 5.50%)

Cost of debt (Rd)7.93%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)89.48%

Debt weight (D/V)10.52%

Results

Current Price$340.13

Implied Near-term FCF Growth34.0%

Historical Revenue Growth21.2%

Historical Earnings Growth38.2%

Base FCF (TTM)$122.75M

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: $1.20

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$24.72

Current Price$340.13

Upside / Downside-92.7%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $536.69M

Target EV/EBITDA multipleCurrent: 22.6×

Net Debt($B)Default: $1.20B

Results

Implied Equity Value / share$385.31

Current Price$340.13

Upside / Downside+13.3%

Implied EV$12.15B

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

Mult \ Net Debt	$1.20B	$1.20B	$1.20B	$1.20B	$1.20B
18.6x	$309.80	$309.80	$309.80	$309.80	$309.80
20.6x	$347.55	$347.55	$347.55	$347.55	$347.55
22.6x	$385.31	$385.31	$385.31	$385.31	$385.31
24.6x	$423.07	$423.07	$423.07	$423.07	$423.07
26.6x	$460.82	$460.82	$460.82	$460.82	$460.82

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