ORA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($107.15)
DCF	$-240.29	-324.3%
Graham Number	$46.01	-57.1%
Reverse DCF	—	—
DDM	$9.89	-90.8%
EV/EBITDA	$109.68	+2.4%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$291.52M

Near-term growth (yrs 1–5)(%)Rev: 19.6% / EPS: -24.4%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.31%

Computed WACC: 6.31%

Cost of equity (Re)9.07%(Rf 4.30% + β 0.87 × 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)69.51%

Debt weight (D/V)30.49%

Results

Intrinsic Value / share$-400.15

Current Price$107.15

Upside / Downside-473.4%

Net Debt (used)$2.71B

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

WACC \ Near-term	11.6%	15.6%	19.6%	23.6%	27.6%
7.0%	$-257.26	$-296.13	$-340.61	$-391.31	$-448.86
8.0%	$-215.14	$-245.94	$-281.16	$-321.27	$-366.77
9.0%	$-186.17	$-211.43	$-240.29	$-273.13	$-310.37
10.0%	$-165.08	$-186.31	$-210.55	$-238.12	$-269.36
11.0%	$-149.07	$-167.25	$-188.00	$-211.58	$-238.28

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.25

Book Value / share($)Yahoo: $41.81

Results

Graham Number$46.01

Current Price$107.15

Margin of Safety-57.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.31%

Terminal growth rate(%)

Computed WACC: 6.31%

Cost of equity (Re)9.07%(Rf 4.30% + β 0.87 × 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)69.51%

Debt weight (D/V)30.49%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$107.15

Implied Near-term FCF Growth—

Historical Revenue Growth19.6%

Historical Earnings Growth-24.4%

Base FCF (TTM)-$291.52M

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: $0.48

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$9.89

Current Price$107.15

Upside / Downside-90.8%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $467.13M

Target EV/EBITDA multipleCurrent: 20.1×

Net Debt($B)Default: $2.71B

Results

Implied Equity Value / share$109.68

Current Price$107.15

Upside / Downside+2.4%

Implied EV$9.38B

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

Mult \ Net Debt	$709.33M	$1.71B	$2.71B	$3.71B	$4.71B
16.1x	$111.85	$95.40	$78.94	$62.49	$46.04
18.1x	$127.22	$110.77	$94.31	$77.86	$61.41
20.1x	$142.59	$126.14	$109.68	$93.23	$76.78
22.1x	$157.96	$141.51	$125.06	$108.60	$92.15
24.1x	$173.33	$156.88	$140.43	$123.97	$107.52

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