MOV — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($24.69)
DCF	$3826.16	+15396.8%
Graham Number	$22.15	-10.3%
Reverse DCF	—	implied g: -5.7%
DDM	$28.84	+16.8%
EV/EBITDA	$35.01	+41.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $30.54M

Near-term growth (yrs 1–5)(%)Rev: 3.1% / EPS: 100.0%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 8.06%

Computed WACC: 8.06%

Cost of equity (Re)9.22%(Rf 4.30% + β 0.89 × ERP 5.50%)

Cost of debt (Rd)0.59%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)86.81%

Debt weight (D/V)13.19%

Results

Intrinsic Value / share$4740.64

Current Price$24.69

Upside / Downside+19100.6%

Net Debt (used)-$101.24M

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

WACC \ Near-term	92.0%	96.0%	100.0%	104.0%	108.0%
7.0%	$5109.09	$5661.54	$6260.89	$6910.06	$7612.09
8.0%	$3926.25	$4350.29	$4810.31	$5308.54	$5847.33
9.0%	$3123.73	$3460.66	$3826.16	$4222.00	$4650.05
10.0%	$2548.17	$2822.63	$3120.35	$3442.78	$3791.42
11.0%	$2118.49	$2346.32	$2593.45	$2861.08	$3150.46

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.97

Book Value / share($)Yahoo: $22.47

Results

Graham Number$22.15

Current Price$24.69

Margin of Safety-10.3%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 8.06%

Terminal growth rate(%)

Computed WACC: 8.06%

Cost of equity (Re)9.22%(Rf 4.30% + β 0.89 × ERP 5.50%)

Cost of debt (Rd)0.59%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)86.81%

Debt weight (D/V)13.19%

Results

Current Price$24.69

Implied Near-term FCF Growth-7.9%

Historical Revenue Growth3.1%

Historical Earnings Growth100.0%

Base FCF (TTM)$30.54M

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: $1.40

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$28.84

Current Price$24.69

Upside / Downside+16.8%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $34.67M

Target EV/EBITDA multipleCurrent: 12.9×

Net Debt($B)Default: -$101.24M

Results

Implied Equity Value / share$35.01

Current Price$24.69

Upside / Downside+41.8%

Implied EV$447.79M

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

Mult \ Net Debt	-$2.10B	-$1.10B	-$101.24M	$898.76M	$1.90B
8.9x	$153.70	$89.93	$26.17	$-37.60	$-101.37
10.9x	$158.12	$94.35	$30.59	$-33.18	$-96.94
12.9x	$162.54	$98.78	$35.01	$-28.76	$-92.52
14.9x	$166.96	$103.20	$39.43	$-24.33	$-88.10
16.9x	$171.39	$107.62	$43.85	$-19.91	$-83.68

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