PKOH — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($26.30)
DCF	$-41.80	-258.9%
Graham Number	$35.47	+34.9%
Reverse DCF	—	implied g: 58.9%
DDM	$10.30	-60.8%
EV/EBITDA	$25.53	-2.9%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $3.25M

Near-term growth (yrs 1–5)(%)Rev: -4.6% / EPS: -48.5%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 3.65%

Computed WACC: 3.65%

Cost of equity (Re)10.50%(Rf 4.30% + β 1.13 × 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)34.80%

Debt weight (D/V)65.20%

Results

Intrinsic Value / share$-23.13

Current Price$26.30

Upside / Downside-187.9%

Net Debt (used)$659.10M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-41.76	$-40.95	$-40.01	$-38.93	$-37.67
8.0%	$-42.47	$-41.82	$-41.07	$-40.19	$-39.19
9.0%	$-42.97	$-42.42	$-41.80	$-41.07	$-40.24
10.0%	$-43.33	$-42.87	$-42.33	$-41.71	$-41.01
11.0%	$-43.60	$-43.20	$-42.74	$-42.20	$-41.59

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.05

Book Value / share($)Yahoo: $27.28

Results

Graham Number$35.47

Current Price$26.30

Margin of Safety+34.9%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 3.65%

Terminal growth rate(%)

Computed WACC: 3.65%

Cost of equity (Re)10.50%(Rf 4.30% + β 1.13 × 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)34.80%

Debt weight (D/V)65.20%

Results

Current Price$26.30

Implied Near-term FCF Growth22.7%

Historical Revenue Growth-4.6%

Historical Earnings Growth-48.5%

Base FCF (TTM)$3.25M

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: $0.50

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$10.30

Current Price$26.30

Upside / Downside-60.8%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $115.70M

Target EV/EBITDA multipleCurrent: 8.9×

Net Debt($B)Default: $659.10M

Results

Implied Equity Value / share$25.53

Current Price$26.30

Upside / Downside-2.9%

Implied EV$1.03B

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

Mult \ Net Debt	-$1.34B	-$340.90M	$659.10M	$1.66B	$2.66B
4.9x	$132.25	$62.82	$-6.60	$-76.02	$-145.45
6.9x	$148.31	$78.89	$9.47	$-59.96	$-129.38
8.9x	$164.38	$94.95	$25.53	$-43.89	$-113.32
10.9x	$180.44	$111.02	$41.59	$-27.83	$-97.25
12.9x	$196.51	$127.08	$57.66	$-11.76	$-81.19

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