OI — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($13.43)
DCF	$8.18	-39.1%
Graham Number	—	—
Reverse DCF	—	implied g: 7.2%
DDM	—	—
EV/EBITDA	$14.42	+7.4%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $323.62M

Near-term growth (yrs 1–5)(%)Rev: -1.9% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.51%

Computed WACC: 6.51%

Cost of equity (Re)8.44%(Rf 4.30% + β 0.75 × ERP 5.50%)

Cost of debt (Rd)7.26%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)28.42%

Debt weight (D/V)71.58%

Results

Intrinsic Value / share$31.61

Current Price$13.43

Upside / Downside+135.4%

Net Debt (used)$4.44B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$8.50	$16.10	$24.95	$35.19	$46.99
8.0%	$1.80	$7.93	$15.04	$23.26	$32.71
9.0%	$-2.83	$2.26	$8.18	$15.00	$22.84
10.0%	$-6.24	$-1.89	$3.15	$8.95	$15.62
11.0%	$-8.84	$-5.07	$-0.70	$4.33	$10.10

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.84

Book Value / share($)Yahoo: $8.46

Results

Graham Number requires positive EPS and positive Book Value per share. EPS is zero or negative.

Graham Number—

Current Price$13.43

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.51%

Terminal growth rate(%)

Computed WACC: 6.51%

Cost of equity (Re)8.44%(Rf 4.30% + β 0.75 × ERP 5.50%)

Cost of debt (Rd)7.26%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)28.42%

Debt weight (D/V)71.58%

Results

Current Price$13.43

Implied Near-term FCF Growth-0.6%

Historical Revenue Growth-1.9%

Historical Earnings Growth—

Base FCF (TTM)$323.62M

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: —

Dividend growth rate (g)(%)

Required return (r)(%)

Results

This company does not pay a dividend. DDM is not applicable — the intrinsic value shown uses D0 = $0 unless you enter a hypothetical dividend above.

DDM Intrinsic Value / share—

Current Price$13.43

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.02B

Target EV/EBITDA multipleCurrent: 6.5×

Net Debt($B)Default: $4.44B

Results

Implied Equity Value / share$14.42

Current Price$13.43

Upside / Downside+7.4%

Implied EV$6.63B

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

Mult \ Net Debt	$2.44B	$3.44B	$4.44B	$5.44B	$6.44B
2.5x	$0.88	$-5.69	$-12.25	$-18.81	$-25.38
4.5x	$14.21	$7.65	$1.09	$-5.48	$-12.04
6.5x	$27.55	$20.99	$14.42	$7.86	$1.30
8.5x	$40.89	$34.32	$27.76	$21.20	$14.63
10.5x	$54.22	$47.66	$41.10	$34.53	$27.97

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