MTDR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($54.12)
DCF	$-52.51	-197.0%
Graham Number	$78.99	+46.0%
Reverse DCF	—	—
DDM	$30.90	-42.9%
EV/EBITDA	$56.84	+5.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$170.40M

Near-term growth (yrs 1–5)(%)Rev: -12.5% / EPS: -9.6%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.60%

Computed WACC: 6.60%

Cost of equity (Re)10.08%(Rf 4.30% + β 1.05 × 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)65.46%

Debt weight (D/V)34.54%

Results

Intrinsic Value / share$-66.77

Current Price$54.12

Upside / Downside-223.4%

Net Debt (used)$3.53B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-52.72	$-57.63	$-63.34	$-69.95	$-77.56
8.0%	$-48.40	$-52.35	$-56.94	$-62.24	$-68.35
9.0%	$-45.40	$-48.69	$-52.51	$-56.91	$-61.98
10.0%	$-43.20	$-46.01	$-49.26	$-53.01	$-57.31
11.0%	$-41.52	$-43.96	$-46.78	$-50.03	$-53.75

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $6.09

Book Value / share($)Yahoo: $45.53

Results

Graham Number$78.99

Current Price$54.12

Margin of Safety+46.0%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.60%

Terminal growth rate(%)

Computed WACC: 6.60%

Cost of equity (Re)10.08%(Rf 4.30% + β 1.05 × 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)65.46%

Debt weight (D/V)34.54%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$54.12

Implied Near-term FCF Growth—

Historical Revenue Growth-12.5%

Historical Earnings Growth-9.6%

Base FCF (TTM)-$170.40M

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: $1.50

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$30.90

Current Price$54.12

Upside / Downside-42.9%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $2.43B

Target EV/EBITDA multipleCurrent: 4.4×

Net Debt($B)Default: $3.53B

Results

Implied Equity Value / share$56.84

Current Price$54.12

Upside / Downside+5.0%

Implied EV$10.60B

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

Mult \ Net Debt	$1.53B	$2.53B	$3.53B	$4.53B	$5.53B
0.4x	$-5.28	$-13.33	$-21.38	$-29.42	$-37.47
2.4x	$33.83	$25.78	$17.73	$9.68	$1.64
4.4x	$72.93	$64.89	$56.84	$48.79	$40.74
6.4x	$112.04	$103.99	$95.94	$87.90	$79.85
8.4x	$151.15	$143.10	$135.05	$127.00	$118.96

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