MOG-B — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($344.41)
DCF	$3836.91	+1014.1%
Graham Number	$108.35	-68.5%
Reverse DCF	—	implied g: 6.3%
DDM	$24.72	-92.8%
EV/EBITDA	$3314.68	+862.4%

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: 9.12%

Computed WACC: 9.12%

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)89.59%

Debt weight (D/V)10.41%

Results

Intrinsic Value / share$3741.69

Current Price$344.41

Upside / Downside+986.4%

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%	$4544.45	$5327.04	$6207.43	$7194.57	$8297.92
8.0%	$3498.90	$4111.08	$4799.54	$5571.21	$6433.49
9.0%	$2783.83	$3279.59	$3836.91	$4461.39	$5158.98
10.0%	$2266.45	$2678.06	$3140.61	$3658.72	$4237.29
11.0%	$1876.48	$2224.75	$2615.95	$3054.00	$3543.00

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $8.02

Book Value / share($)Yahoo: $65.06

Results

Graham Number$108.35

Current Price$344.41

Margin of Safety-68.5%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.12%

Terminal growth rate(%)

Computed WACC: 9.12%

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)89.59%

Debt weight (D/V)10.41%

Results

Current Price$344.41

Implied Near-term FCF Growth6.7%

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$344.41

Upside / Downside-92.8%

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$3314.68

Current Price$344.41

Upside / Downside+862.4%

Implied EV$12.12B

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

Mult \ Net Debt	$1.20B	$1.20B	$1.20B	$1.20B	$1.20B
18.6x	$2663.44	$2663.44	$2663.44	$2663.44	$2663.44
20.6x	$2989.06	$2989.06	$2989.06	$2989.06	$2989.06
22.6x	$3314.68	$3314.68	$3314.68	$3314.68	$3314.68
24.6x	$3640.30	$3640.30	$3640.30	$3640.30	$3640.30
26.6x	$3965.92	$3965.92	$3965.92	$3965.92	$3965.92

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