PGY — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($11.34)
DCF	$142.59	+1157.4%
Graham Number	$11.07	-2.4%
Reverse DCF	—	implied g: -20.0%
DDM	—	—
EV/EBITDA	$14.97	+32.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $230.97M

Near-term growth (yrs 1–5)(%)Rev: 19.8% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 19.05%

Computed WACC: 19.05%

Cost of equity (Re)36.98%(Rf 4.30% + β 5.94 × 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)51.50%

Debt weight (D/V)48.50%

Results

Intrinsic Value / share$49.66

Current Price$11.34

Upside / Downside+337.9%

Net Debt (used)-$322.11M

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

WACC \ Near-term	11.8%	15.8%	19.8%	23.8%	27.8%
7.0%	$154.69	$182.07	$213.40	$249.09	$289.60
8.0%	$124.95	$146.64	$171.43	$199.67	$231.70
9.0%	$104.49	$122.27	$142.59	$165.71	$191.92
10.0%	$89.60	$104.55	$121.61	$141.01	$162.99
11.0%	$78.30	$91.10	$105.70	$122.29	$141.07

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.93

Book Value / share($)Yahoo: $5.86

Results

Graham Number$11.07

Current Price$11.34

Margin of Safety-2.4%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 19.05%

Terminal growth rate(%)

Computed WACC: 19.05%

Cost of equity (Re)36.98%(Rf 4.30% + β 5.94 × 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)51.50%

Debt weight (D/V)48.50%

Results

Current Price$11.34

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth19.8%

Historical Earnings Growth—

Base FCF (TTM)$230.97M

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$11.34

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $293.90M

Target EV/EBITDA multipleCurrent: 2.4×

Net Debt($B)Default: -$322.11M

Results

Implied Equity Value / share$14.97

Current Price$11.34

Upside / Downside+32.0%

Implied EV$712.72M

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

Mult \ Net Debt	-$2.32B	-$1.32B	-$322.11M	$677.89M	$1.68B
-1.6x	$26.90	$12.43	$-2.04	$-16.51	$-30.98
0.4x	$35.41	$20.94	$6.47	$-8.00	$-22.47
2.4x	$43.91	$29.44	$14.97	$0.50	$-13.97
4.4x	$52.42	$37.95	$23.48	$9.01	$-5.46
6.4x	$60.93	$46.46	$31.99	$17.52	$3.05

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