PCTY — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($108.69)
DCF	$48422.39	+44450.9%
Graham Number	$44.15	-59.4%
Reverse DCF	—	implied g: 2.6%
DDM	—	—
EV/EBITDA	$107.80	-0.8%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $375.08M

Near-term growth (yrs 1–5)(%)Rev: 28.2% / EPS: 133.3%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.53%

Computed WACC: 7.53%

Cost of equity (Re)7.61%(Rf 4.30% + β 0.60 × 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)98.88%

Debt weight (D/V)1.12%

Results

Intrinsic Value / share$68982.48

Current Price$108.69

Upside / Downside+63367.2%

Net Debt (used)-$139.54M

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

WACC \ Near-term	125.3%	129.3%	133.3%	137.3%	141.3%
7.0%	$67162.81	$73332.27	$79947.17	$87031.22	$94608.94
8.0%	$51340.68	$56055.03	$61109.69	$66522.75	$72312.96
9.0%	$40625.93	$44354.94	$48353.07	$52634.62	$57214.41
10.0%	$32957.30	$35981.15	$39223.16	$42694.94	$46408.49
11.0%	$27245.11	$29743.74	$32422.59	$35291.24	$38359.60

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $4.25

Book Value / share($)Yahoo: $20.39

Results

Graham Number$44.15

Current Price$108.69

Margin of Safety-59.4%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.53%

Terminal growth rate(%)

Computed WACC: 7.53%

Cost of equity (Re)7.61%(Rf 4.30% + β 0.60 × 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)98.88%

Debt weight (D/V)1.12%

Results

Current Price$108.69

Implied Near-term FCF Growth-1.5%

Historical Revenue Growth28.2%

Historical Earnings Growth133.3%

Base FCF (TTM)$375.08M

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$108.69

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $380.79M

Target EV/EBITDA multipleCurrent: 14.9×

Net Debt($B)Default: -$139.54M

Results

Implied Equity Value / share$107.80

Current Price$108.69

Upside / Downside-0.8%

Implied EV$5.67B

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

Mult \ Net Debt	-$2.14B	-$1.14B	-$139.54M	$860.46M	$1.86B
10.9x	$116.65	$98.09	$79.53	$60.97	$42.41
12.9x	$130.79	$112.23	$93.67	$75.10	$56.54
14.9x	$144.92	$126.36	$107.80	$89.24	$70.68
16.9x	$159.06	$140.50	$121.94	$103.38	$84.82
18.9x	$173.19	$154.63	$136.07	$117.51	$98.95

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