PI — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($121.98)
DCF	$18.25	-85.0%
Graham Number	—	—
Reverse DCF	—	implied g: 35.6%
DDM	—	—
EV/EBITDA	$122.66	+0.6%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $38.76M

Near-term growth (yrs 1–5)(%)Rev: 1.4% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 11.90%

Computed WACC: 11.90%

Cost of equity (Re)12.78%(Rf 4.30% + β 1.54 × ERP 5.50%)

Cost of debt (Rd)1.55%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)92.38%

Debt weight (D/V)7.62%

Results

Intrinsic Value / share$11.23

Current Price$121.98

Upside / Downside-90.8%

Net Debt (used)$128.86M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$18.44	$23.03	$28.37	$34.56	$41.68
8.0%	$14.40	$18.10	$22.39	$27.35	$33.06
9.0%	$11.60	$14.68	$18.25	$22.37	$27.10
10.0%	$9.55	$12.17	$15.21	$18.72	$22.74
11.0%	$7.97	$10.25	$12.89	$15.93	$19.41

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.37

Book Value / share($)Yahoo: $6.92

Results

Graham Number requires positive EPS and positive Book Value per share. EPS is zero or negative.

Graham Number—

Current Price$121.98

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 11.90%

Terminal growth rate(%)

Computed WACC: 11.90%

Cost of equity (Re)12.78%(Rf 4.30% + β 1.54 × ERP 5.50%)

Cost of debt (Rd)1.55%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)92.38%

Debt weight (D/V)7.62%

Results

Current Price$121.98

Implied Near-term FCF Growth45.0%

Historical Revenue Growth1.4%

Historical Earnings Growth—

Base FCF (TTM)$38.76M

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$121.98

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $14.30M

Target EV/EBITDA multipleCurrent: 268.3×

Net Debt($B)Default: $128.86M

Results

Implied Equity Value / share$122.66

Current Price$121.98

Upside / Downside+0.6%

Implied EV$3.84B

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

Mult \ Net Debt	-$1.87B	-$871.14M	$128.86M	$1.13B	$2.13B
264.3x	$186.92	$153.85	$120.77	$87.69	$54.61
266.3x	$187.87	$154.79	$121.71	$88.64	$55.56
268.3x	$188.82	$155.74	$122.66	$89.58	$56.50
270.3x	$189.76	$156.68	$123.61	$90.53	$57.45
272.3x	$190.71	$157.63	$124.55	$91.47	$58.40

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