MRVL — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($80.86)
DCF	$231.93	+186.8%
Graham Number	$32.53	-59.8%
Reverse DCF	—	implied g: 18.0%
DDM	$4.94	-93.9%
EV/EBITDA	$78.51	-2.9%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $1.95B

Near-term growth (yrs 1–5)(%)Rev: 36.8% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 14.44%

Computed WACC: 14.44%

Cost of equity (Re)15.18%(Rf 4.30% + β 1.98 × ERP 5.50%)

Cost of debt (Rd)4.45%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)93.66%

Debt weight (D/V)6.34%

Results

Intrinsic Value / share$103.17

Current Price$80.86

Upside / Downside+27.6%

Net Debt (used)$2.06B

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

WACC \ Near-term	28.8%	32.8%	36.8%	40.8%	44.8%
7.0%	$270.11	$314.01	$363.44	$418.94	$481.03
8.0%	$212.29	$246.66	$285.34	$328.76	$377.31
9.0%	$172.74	$200.58	$231.93	$267.08	$306.40
10.0%	$144.10	$167.24	$193.27	$222.46	$255.09
11.0%	$122.51	$142.11	$164.14	$188.84	$216.43

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.84

Book Value / share($)Yahoo: $16.56

Results

Graham Number$32.53

Current Price$80.86

Margin of Safety-59.8%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 14.44%

Terminal growth rate(%)

Computed WACC: 14.44%

Cost of equity (Re)15.18%(Rf 4.30% + β 1.98 × ERP 5.50%)

Cost of debt (Rd)4.45%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)93.66%

Debt weight (D/V)6.34%

Results

Current Price$80.86

Implied Near-term FCF Growth32.0%

Historical Revenue Growth36.8%

Historical Earnings Growth—

Base FCF (TTM)$1.95B

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: $0.24

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$4.94

Current Price$80.86

Upside / Downside-93.9%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $2.45B

Target EV/EBITDA multipleCurrent: 28.9×

Net Debt($B)Default: $2.06B

Results

Implied Equity Value / share$78.51

Current Price$80.86

Upside / Downside-2.9%

Implied EV$70.64B

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

Mult \ Net Debt	$63.00M	$1.06B	$2.06B	$3.06B	$4.06B
24.9x	$69.59	$68.45	$67.30	$66.16	$65.01
26.9x	$75.20	$74.05	$72.91	$71.76	$70.62
28.9x	$80.80	$79.66	$78.51	$77.37	$76.22
30.9x	$86.41	$85.26	$84.12	$82.97	$81.83
32.9x	$92.02	$90.87	$89.73	$88.58	$87.44

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