MYE — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($22.06)
DCF	$20.85	-5.5%
Graham Number	$11.30	-48.8%
Reverse DCF	—	implied g: 5.7%
DDM	$11.12	-49.6%
EV/EBITDA	$22.06	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $64.58M

Near-term growth (yrs 1–5)(%)Rev: 0.2% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.01%

Computed WACC: 7.01%

Cost of equity (Re)10.43%(Rf 4.30% + β 1.11 × 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)67.25%

Debt weight (D/V)32.75%

Results

Intrinsic Value / share$34.39

Current Price$22.06

Upside / Downside+55.9%

Net Debt (used)$353.87M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$21.11	$27.29	$34.48	$42.81	$52.39
8.0%	$15.67	$20.65	$26.43	$33.11	$40.79
9.0%	$11.90	$16.04	$20.85	$26.40	$32.77
10.0%	$9.13	$12.67	$16.76	$21.48	$26.90
11.0%	$7.02	$10.09	$13.64	$17.73	$22.41

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.74

Book Value / share($)Yahoo: $7.67

Results

Graham Number$11.30

Current Price$22.06

Margin of Safety-48.8%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.01%

Terminal growth rate(%)

Computed WACC: 7.01%

Cost of equity (Re)10.43%(Rf 4.30% + β 1.11 × 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)67.25%

Debt weight (D/V)32.75%

Results

Current Price$22.06

Implied Near-term FCF Growth-0.3%

Historical Revenue Growth0.2%

Historical Earnings Growth—

Base FCF (TTM)$64.58M

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: $0.54

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$11.12

Current Price$22.06

Upside / Downside-49.6%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $113.80M

Target EV/EBITDA multipleCurrent: 10.4×

Net Debt($B)Default: $353.87M

Results

Implied Equity Value / share$22.06

Current Price$22.06

Upside / Downside-0.0%

Implied EV$1.18B

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

Mult \ Net Debt	-$1.65B	-$646.13M	$353.87M	$1.35B	$2.35B
6.4x	$63.36	$36.62	$9.89	$-16.84	$-43.57
8.4x	$69.44	$42.71	$15.98	$-10.76	$-37.49
10.4x	$75.52	$48.79	$22.06	$-4.67	$-31.41
12.4x	$81.61	$54.88	$28.14	$1.41	$-25.32
14.4x	$87.69	$60.96	$34.23	$7.50	$-19.24

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