OLED — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($107.60)
DCF	$246.22	+128.8%
Graham Number	$65.26	-39.3%
Reverse DCF	—	implied g: 28.2%
DDM	$41.20	-61.7%
EV/EBITDA	$107.60	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $67.95M

Near-term growth (yrs 1–5)(%)Rev: 6.6% / EPS: 45.2%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 13.30%

Computed WACC: 13.30%

Cost of equity (Re)13.36%(Rf 4.30% + β 1.65 × 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)99.53%

Debt weight (D/V)0.47%

Results

Intrinsic Value / share$130.43

Current Price$107.60

Upside / Downside+21.2%

Net Debt (used)-$578.39M

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

WACC \ Near-term	37.2%	41.2%	45.2%	49.2%	53.2%
7.0%	$291.70	$334.10	$381.53	$434.43	$493.27
8.0%	$231.11	$264.15	$301.12	$342.34	$388.17
9.0%	$189.73	$216.40	$246.22	$279.46	$316.42
10.0%	$159.84	$181.90	$206.57	$234.06	$264.61
11.0%	$137.35	$155.95	$176.74	$199.91	$225.65

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $5.08

Book Value / share($)Yahoo: $37.26

Results

Graham Number$65.26

Current Price$107.60

Margin of Safety-39.3%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 13.30%

Terminal growth rate(%)

Computed WACC: 13.30%

Cost of equity (Re)13.36%(Rf 4.30% + β 1.65 × 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)99.53%

Debt weight (D/V)0.47%

Results

Current Price$107.60

Implied Near-term FCF Growth40.8%

Historical Revenue Growth6.6%

Historical Earnings Growth45.2%

Base FCF (TTM)$67.95M

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: $2.00

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$41.20

Current Price$107.60

Upside / Downside-61.7%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $295.16M

Target EV/EBITDA multipleCurrent: 15.2×

Net Debt($B)Default: -$578.39M

Results

Implied Equity Value / share$107.60

Current Price$107.60

Upside / Downside+0.0%

Implied EV$4.49B

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

Mult \ Net Debt	-$2.58B	-$1.58B	-$578.39M	$421.61M	$1.42B
11.2x	$125.00	$103.77	$82.53	$61.30	$40.07
13.2x	$137.53	$116.30	$95.07	$73.84	$52.60
15.2x	$150.07	$128.83	$107.60	$86.37	$65.14
17.2x	$162.60	$141.37	$120.14	$98.90	$77.67
19.2x	$175.13	$153.90	$132.67	$111.44	$90.21

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