PIPR — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($304.35)
DCF	$70.62	-76.8%
Graham Number	$170.13	-44.1%
Reverse DCF	—	—
DDM	$57.68	-81.0%
EV/EBITDA	—	—

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: —

Near-term growth (yrs 1–5)(%)Rev: 37.6% / EPS: 65.1%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 12.27%

Computed WACC: 12.27%

Cost of equity (Re)12.56%(Rf 4.30% + β 1.50 × 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)97.75%

Debt weight (D/V)2.25%

Results

Intrinsic Value / share$70.62

Current Price$304.35

Upside / Downside-76.8%

Net Debt (used)-$1.19B

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

WACC \ Near-term	57.1%	61.1%	65.1%	69.1%	73.1%
7.0%	$70.62	$70.62	$70.62	$70.62	$70.62
8.0%	$70.62	$70.62	$70.62	$70.62	$70.62
9.0%	$70.62	$70.62	$70.62	$70.62	$70.62
10.0%	$70.62	$70.62	$70.62	$70.62	$70.62
11.0%	$70.62	$70.62	$70.62	$70.62	$70.62

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $15.83

Book Value / share($)Yahoo: $81.27

Results

Graham Number$170.13

Current Price$304.35

Margin of Safety-44.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 12.27%

Terminal growth rate(%)

Computed WACC: 12.27%

Cost of equity (Re)12.56%(Rf 4.30% + β 1.50 × 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)97.75%

Debt weight (D/V)2.25%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$304.35

Implied Near-term FCF Growth—

Historical Revenue Growth37.6%

Historical Earnings Growth65.1%

Base FCF (TTM)—

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: $2.80

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$57.68

Current Price$304.35

Upside / Downside-81.0%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: —

Target EV/EBITDA multipleCurrent: —×

Net Debt($B)Default: -$1.19B

Results

Implied Equity Value / share$70.62

Current Price$304.35

Upside / Downside-76.8%

Implied EV$0

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