OTTR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($85.17)
DCF	$-27.53	-132.3%
Graham Number	$80.92	-5.0%
Reverse DCF	—	—
DDM	$44.29	-48.0%
EV/EBITDA	$85.70	+0.6%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$26.48M

Near-term growth (yrs 1–5)(%)Rev: 1.6% / EPS: -5.4%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.45%

Computed WACC: 5.45%

Cost of equity (Re)7.17%(Rf 4.30% + β 0.52 × 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)75.96%

Debt weight (D/V)24.04%

Results

Intrinsic Value / share$-41.04

Current Price$85.17

Upside / Downside-148.2%

Net Debt (used)$690.15M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-27.63	$-29.89	$-32.52	$-35.56	$-39.07
8.0%	$-25.64	$-27.46	$-29.57	$-32.01	$-34.82
9.0%	$-24.26	$-25.78	$-27.53	$-29.56	$-31.89
10.0%	$-23.25	$-24.54	$-26.04	$-27.76	$-29.74
11.0%	$-22.47	$-23.60	$-24.90	$-26.39	$-28.10

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $6.55

Book Value / share($)Yahoo: $44.43

Results

Graham Number$80.92

Current Price$85.17

Margin of Safety-5.0%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.45%

Terminal growth rate(%)

Computed WACC: 5.45%

Cost of equity (Re)7.17%(Rf 4.30% + β 0.52 × 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)75.96%

Debt weight (D/V)24.04%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$85.17

Implied Near-term FCF Growth—

Historical Revenue Growth1.6%

Historical Earnings Growth-5.4%

Base FCF (TTM)-$26.48M

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: $2.15

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$44.29

Current Price$85.17

Upside / Downside-48.0%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $462.82M

Target EV/EBITDA multipleCurrent: 9.3×

Net Debt($B)Default: $690.15M

Results

Implied Equity Value / share$85.70

Current Price$85.17

Upside / Downside+0.6%

Implied EV$4.29B

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

Mult \ Net Debt	-$1.31B	-$309.85M	$690.15M	$1.69B	$2.69B
5.3x	$89.25	$65.41	$41.58	$17.74	$-6.09
7.3x	$111.31	$87.48	$63.64	$39.80	$15.97
9.3x	$133.38	$109.54	$85.70	$61.87	$38.03
11.3x	$155.44	$131.60	$107.77	$83.93	$60.10
13.3x	$177.50	$153.67	$129.83	$106.00	$82.16

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