PLAB — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($36.93)
DCF	$24.80	-32.8%
Graham Number	$33.22	-10.0%
Reverse DCF	—	implied g: 19.8%
DDM	—	—
EV/EBITDA	$44.42	+20.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $36.48M

Near-term growth (yrs 1–5)(%)Rev: 6.1% / EPS: 8.8%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 12.63%

Computed WACC: 12.63%

Cost of equity (Re)12.63%(Rf 4.30% + β 1.51 × 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)100.00%

Debt weight (D/V)0.00%

Results

Intrinsic Value / share$19.63

Current Price$36.93

Upside / Downside-46.9%

Net Debt (used)-$636.85M

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

WACC \ Near-term	0.8%	4.8%	8.8%	12.8%	16.8%
7.0%	$25.22	$28.03	$31.28	$35.02	$39.32
8.0%	$22.60	$24.85	$27.45	$30.44	$33.87
9.0%	$20.79	$22.65	$24.80	$27.28	$30.11
10.0%	$19.46	$21.05	$22.87	$24.97	$27.37
11.0%	$18.45	$19.82	$21.40	$23.21	$25.28

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $2.34

Book Value / share($)Yahoo: $20.96

Results

Graham Number$33.22

Current Price$36.93

Margin of Safety-10.0%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 12.63%

Terminal growth rate(%)

Computed WACC: 12.63%

Cost of equity (Re)12.63%(Rf 4.30% + β 1.51 × 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)100.00%

Debt weight (D/V)0.00%

Results

Current Price$36.93

Implied Near-term FCF Growth29.7%

Historical Revenue Growth6.1%

Historical Earnings Growth8.8%

Base FCF (TTM)$36.48M

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$36.93

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $287.46M

Target EV/EBITDA multipleCurrent: 6.7×

Net Debt($B)Default: -$636.85M

Results

Implied Equity Value / share$44.42

Current Price$36.93

Upside / Downside+20.3%

Implied EV$1.94B

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

Mult \ Net Debt	-$2.64B	-$1.64B	-$636.85M	$363.15M	$1.36B
2.7x	$59.10	$41.83	$24.57	$7.30	$-9.96
4.7x	$69.02	$51.76	$34.49	$17.23	$-0.04
6.7x	$78.95	$61.68	$44.42	$27.15	$9.89
8.7x	$88.87	$71.61	$54.34	$37.08	$19.82
10.7x	$98.80	$81.53	$64.27	$47.01	$29.74

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