OBDC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($11.29)
DCF	$18.19	+61.1%
Graham Number	$20.33	+80.1%
Reverse DCF	—	implied g: 9.8%
DDM	$31.11	+175.5%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $620.29M

Near-term growth (yrs 1–5)(%)Rev: 13.5% / EPS: -40.9%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.35%

Computed WACC: 6.35%

Cost of equity (Re)8.11%(Rf 4.30% + β 0.69 × ERP 5.50%)

Cost of debt (Rd)6.65%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)38.29%

Debt weight (D/V)61.71%

Results

Intrinsic Value / share$45.46

Current Price$11.29

Upside / Downside+302.7%

Net Debt (used)$8.78B

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

WACC \ Near-term	5.5%	9.5%	13.5%	17.5%	21.5%
7.0%	$20.25	$27.47	$35.79	$45.33	$56.23
8.0%	$13.03	$18.78	$25.41	$32.99	$41.65
9.0%	$8.05	$12.79	$18.25	$24.50	$31.62
10.0%	$4.41	$8.42	$13.03	$18.30	$24.30
11.0%	$1.64	$5.10	$9.06	$13.59	$18.74

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.24

Book Value / share($)Yahoo: $14.81

Results

Graham Number$20.33

Current Price$11.29

Margin of Safety+80.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.35%

Terminal growth rate(%)

Computed WACC: 6.35%

Cost of equity (Re)8.11%(Rf 4.30% + β 0.69 × ERP 5.50%)

Cost of debt (Rd)6.65%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)38.29%

Debt weight (D/V)61.71%

Results

Current Price$11.29

Implied Near-term FCF Growth1.1%

Historical Revenue Growth13.5%

Historical Earnings Growth-40.9%

Base FCF (TTM)$620.29M

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: $1.51

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$31.11

Current Price$11.29

Upside / Downside+175.5%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: $8.78B

Results

Implied Equity Value / share$-17.58

Current Price$11.29

Upside / Downside-255.7%

Implied EV$0

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