OLP — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($23.75)
DCF	$1387.56	+5742.3%
Graham Number	$22.88	-3.7%
Reverse DCF	—	implied g: 16.8%
DDM	$37.08	+56.1%
EV/EBITDA	$22.22	-6.4%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $26.06M

Near-term growth (yrs 1–5)(%)Rev: 12.5% / EPS: 87.5%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.43%

Computed WACC: 5.43%

Cost of equity (Re)9.74%(Rf 4.30% + β 0.99 × 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)55.76%

Debt weight (D/V)44.24%

Results

Intrinsic Value / share$3864.18

Current Price$23.75

Upside / Downside+16170.2%

Net Debt (used)$391.66M

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

WACC \ Near-term	79.5%	83.5%	87.5%	91.5%	95.5%
7.0%	$1827.66	$2041.75	$2275.29	$2529.57	$2805.96
8.0%	$1403.57	$1568.28	$1747.94	$1943.55	$2156.15
9.0%	$1115.57	$1246.74	$1389.82	$1545.59	$1714.87
10.0%	$908.79	$1015.90	$1132.72	$1259.89	$1398.09
11.0%	$754.25	$843.37	$940.56	$1046.36	$1161.34

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.54

Book Value / share($)Yahoo: $15.11

Results

Graham Number$22.88

Current Price$23.75

Margin of Safety-3.7%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.43%

Terminal growth rate(%)

Computed WACC: 5.43%

Cost of equity (Re)9.74%(Rf 4.30% + β 0.99 × 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)55.76%

Debt weight (D/V)44.24%

Results

Current Price$23.75

Implied Near-term FCF Growth3.2%

Historical Revenue Growth12.5%

Historical Earnings Growth87.5%

Base FCF (TTM)$26.06M

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: $1.80

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$37.08

Current Price$23.75

Upside / Downside+56.1%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $55.81M

Target EV/EBITDA multipleCurrent: 15.6×

Net Debt($B)Default: $391.66M

Results

Implied Equity Value / share$22.22

Current Price$23.75

Upside / Downside-6.4%

Implied EV$872.58M

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

Mult \ Net Debt	-$1.61B	-$608.34M	$391.66M	$1.39B	$2.39B
11.6x	$104.30	$58.11	$11.91	$-34.29	$-80.49
13.6x	$109.46	$63.26	$17.06	$-29.14	$-75.34
15.6x	$114.62	$68.42	$22.22	$-23.98	$-70.18
17.6x	$119.77	$73.57	$27.37	$-18.82	$-65.02
19.6x	$124.93	$78.73	$32.53	$-13.67	$-59.87

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