PBA

PBA — Valuation Models

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

Valuation Summary

ModelIntrinsic Valuevs Price ($44.99)
DCF$33.51-25.5%
Graham Number$29.58-34.3%
Reverse DCFimplied g: 8.2%
DDM$42.64-5.2%
EV/EBITDA$46.99+4.4%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Yahoo: $1.86B
Rev: -10.8% / EPS: -14.9%
Default: 9% (no SEC data)

Results

Intrinsic Value / share$33.51
Current Price$44.99
Upside / Downside-25.5%
Net Debt (used)$13.20B
Sensitivity: WACC (rows) × Near-term g (cols)
WACC \ Near-term-3.0%1.0%5.0%9.0%13.0%
7.0%$34.00$45.47$58.81$74.26$92.05
8.0%$23.90$33.13$43.86$56.26$70.52
9.0%$16.91$24.60$33.51$43.80$55.63
10.0%$11.77$18.33$25.93$34.68$44.73
11.0%$7.84$13.54$20.13$27.72$36.41

2 — Graham Number

Assumptions

Graham used 22.5 (15× P/E × 1.5× P/B)
Yahoo: $2.05
Yahoo: $18.97

Results

Graham Number$29.58
Current Price$44.99
Margin of Safety-34.3%
Formula: √(22.5 × max(0,EPS) × max(0,BVPS))

3 — Reverse DCF (Implied Growth)

Assumptions

Default: 9% (no SEC data)

Results

Current Price$44.99
Implied Near-term FCF Growth8.2%
Historical Revenue Growth-10.8%
Historical Earnings Growth-14.9%
Base FCF (TTM)$1.86B
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

Yahoo: $2.07

Results

DDM Intrinsic Value / share$42.64
Current Price$44.99
Upside / Downside-5.2%
Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

Yahoo: $3.44B
Current: 11.8×
Default: $13.20B

Results

Implied Equity Value / share$46.99
Current Price$44.99
Upside / Downside+4.4%
Implied EV$40.50B
Sensitivity: EV/EBITDA multiple (rows) × Net Debt (cols)
Mult \ Net Debt$7.20B$10.20B$13.20B$16.20B$19.20B
7.8x$33.66$28.49$23.33$18.16$13.00
9.8x$45.49$40.32$35.16$29.99$24.83
11.8x$57.32$52.15$46.99$41.82$36.66
13.8x$69.14$63.98$58.82$53.65$48.49
15.8x$80.97$75.81$70.65$65.48$60.32