PGNY — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($17.60)
DCF	$109.70	+523.3%
Graham Number	$9.33	-47.0%
Reverse DCF	—	implied g: -13.8%
DDM	—	—
EV/EBITDA	$16.81	-4.5%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $212.50M

Near-term growth (yrs 1–5)(%)Rev: 6.7% / EPS: 20.6%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.66%

Computed WACC: 9.66%

Cost of equity (Re)9.84%(Rf 4.30% + β 1.01 × 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)98.21%

Debt weight (D/V)1.79%

Results

Intrinsic Value / share$98.44

Current Price$17.60

Upside / Downside+459.3%

Net Debt (used)-$282.37M

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

WACC \ Near-term	12.6%	16.6%	20.6%	24.6%	28.6%
7.0%	$119.45	$140.53	$164.63	$192.06	$223.18
8.0%	$96.32	$113.01	$132.07	$153.76	$178.34
9.0%	$80.42	$94.09	$109.70	$127.45	$147.55
10.0%	$68.85	$80.33	$93.43	$108.32	$125.17
11.0%	$60.07	$69.90	$81.10	$93.82	$108.21

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.62

Book Value / share($)Yahoo: $6.24

Results

Graham Number$9.33

Current Price$17.60

Margin of Safety-47.0%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.66%

Terminal growth rate(%)

Computed WACC: 9.66%

Cost of equity (Re)9.84%(Rf 4.30% + β 1.01 × 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)98.21%

Debt weight (D/V)1.79%

Results

Current Price$17.60

Implied Near-term FCF Growth-12.5%

Historical Revenue Growth6.7%

Historical Earnings Growth20.6%

Base FCF (TTM)$212.50M

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$17.60

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $97.92M

Target EV/EBITDA multipleCurrent: 11.9×

Net Debt($B)Default: -$282.37M

Results

Implied Equity Value / share$16.81

Current Price$17.60

Upside / Downside-4.5%

Implied EV$1.17B

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

Mult \ Net Debt	-$2.28B	-$1.28B	-$282.37M	$717.63M	$1.72B
7.9x	$35.46	$23.86	$12.26	$0.66	$-10.94
9.9x	$37.73	$26.13	$14.53	$2.93	$-8.66
11.9x	$40.00	$28.41	$16.81	$5.21	$-6.39
13.9x	$42.28	$30.68	$19.08	$7.48	$-4.12
15.9x	$44.55	$32.95	$21.35	$9.75	$-1.85

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