PARR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($46.08)
DCF	$64.63	+40.3%
Graham Number	$56.36	+22.3%
Reverse DCF	—	implied g: 0.9%
DDM	—	—
EV/EBITDA	$45.71	-0.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $245.70M

Near-term growth (yrs 1–5)(%)Rev: -1.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.31%

Computed WACC: 7.31%

Cost of equity (Re)11.15%(Rf 4.30% + β 1.25 × 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)65.61%

Debt weight (D/V)34.39%

Results

Intrinsic Value / share$95.13

Current Price$46.08

Upside / Downside+106.5%

Net Debt (used)$1.06B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$65.37	$82.86	$103.22	$126.77	$153.90
8.0%	$49.98	$64.06	$80.41	$99.32	$121.07
9.0%	$39.31	$51.03	$64.63	$80.33	$98.37
10.0%	$31.48	$41.48	$53.07	$66.42	$81.75
11.0%	$25.48	$34.17	$44.22	$55.79	$69.06

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $4.64

Book Value / share($)Yahoo: $30.42

Results

Graham Number$56.36

Current Price$46.08

Margin of Safety+22.3%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.31%

Terminal growth rate(%)

Computed WACC: 7.31%

Cost of equity (Re)11.15%(Rf 4.30% + β 1.25 × 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)65.61%

Debt weight (D/V)34.39%

Results

Current Price$46.08

Implied Near-term FCF Growth-3.8%

Historical Revenue Growth-1.0%

Historical Earnings Growth—

Base FCF (TTM)$245.70M

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$46.08

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $661.56M

Target EV/EBITDA multipleCurrent: 5.1×

Net Debt($B)Default: $1.06B

Results

Implied Equity Value / share$45.71

Current Price$46.08

Upside / Downside-0.8%

Implied EV$3.36B

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

Mult \ Net Debt	$1.06B	$1.06B	$1.06B	$1.06B	$1.06B
1.1x	$-6.91	$-6.91	$-6.91	$-6.91	$-6.91
3.1x	$19.40	$19.40	$19.40	$19.40	$19.40
5.1x	$45.71	$45.71	$45.71	$45.71	$45.71
7.1x	$72.02	$72.02	$72.02	$72.02	$72.02
9.1x	$98.33	$98.33	$98.33	$98.33	$98.33

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