PKG — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($231.21)
DCF	$67.15	-71.0%
Graham Number	$100.08	-56.7%
Reverse DCF	—	implied g: 26.3%
DDM	$103.00	-55.5%
EV/EBITDA	$227.70	-1.5%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $414.59M

Near-term growth (yrs 1–5)(%)Rev: 10.1% / EPS: -56.5%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.64%

Computed WACC: 7.64%

Cost of equity (Re)9.24%(Rf 4.30% + β 0.90 × 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)82.66%

Debt weight (D/V)17.34%

Results

Intrinsic Value / share$98.16

Current Price$231.21

Upside / Downside-57.5%

Net Debt (used)$3.76B

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

WACC \ Near-term	2.1%	6.1%	10.1%	14.1%	18.1%
7.0%	$71.41	$93.56	$119.17	$148.64	$182.41
8.0%	$50.33	$68.04	$88.50	$112.02	$138.94
9.0%	$35.76	$50.42	$67.33	$86.76	$108.96
10.0%	$25.11	$37.54	$51.87	$68.30	$87.08
11.0%	$16.98	$27.72	$40.08	$54.25	$70.42

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $8.58

Book Value / share($)Yahoo: $51.89

Results

Graham Number$100.08

Current Price$231.21

Margin of Safety-56.7%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.64%

Terminal growth rate(%)

Computed WACC: 7.64%

Cost of equity (Re)9.24%(Rf 4.30% + β 0.90 × 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)82.66%

Debt weight (D/V)17.34%

Results

Current Price$231.21

Implied Near-term FCF Growth21.5%

Historical Revenue Growth10.1%

Historical Earnings Growth-56.5%

Base FCF (TTM)$414.59M

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: $5.00

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$103.00

Current Price$231.21

Upside / Downside-55.5%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.90B

Target EV/EBITDA multipleCurrent: 12.8×

Net Debt($B)Default: $3.76B

Results

Implied Equity Value / share$227.70

Current Price$231.21

Upside / Downside-1.5%

Implied EV$24.25B

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

Mult \ Net Debt	$1.76B	$2.76B	$3.76B	$4.76B	$5.76B
8.8x	$165.46	$154.34	$143.23	$132.12	$121.00
10.8x	$207.69	$196.58	$185.46	$174.35	$163.24
12.8x	$249.92	$238.81	$227.70	$216.58	$205.47
14.8x	$292.16	$281.04	$269.93	$258.82	$247.70
16.8x	$334.39	$323.28	$312.16	$301.05	$289.93

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