PLAY — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($14.24)
DCF	$-225.86	-1686.1%
Graham Number	—	—
Reverse DCF	—	—
DDM	—	—
EV/EBITDA	$14.72	+3.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$242.65M

Near-term growth (yrs 1–5)(%)Rev: -1.1% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 1.69%

Computed WACC: 1.69%

Cost of equity (Re)13.97%(Rf 4.30% + β 1.76 × 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)12.10%

Debt weight (D/V)87.90%

Results

Intrinsic Value / share—

Current Price$14.24

Upside / Downside—

Net Debt (used)$3.57B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$-226.92	$-251.97	$-281.12	$-314.85	$-353.71
8.0%	$-204.87	$-225.04	$-248.46	$-275.54	$-306.68
9.0%	$-189.59	$-206.39	$-225.86	$-248.34	$-274.17
10.0%	$-178.38	$-192.70	$-209.29	$-228.42	$-250.37
11.0%	$-169.79	$-182.24	$-196.63	$-213.20	$-232.20

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.01

Book Value / share($)Yahoo: $3.77

Results

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

Graham Number—

Current Price$14.24

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 1.69%

Terminal growth rate(%)

Computed WACC: 1.69%

Cost of equity (Re)13.97%(Rf 4.30% + β 1.76 × 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)12.10%

Debt weight (D/V)87.90%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$14.24

Implied Near-term FCF Growth—

Historical Revenue Growth-1.1%

Historical Earnings Growth—

Base FCF (TTM)-$242.65M

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$14.24

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $417.00M

Target EV/EBITDA multipleCurrent: 9.8×

Net Debt($B)Default: $3.57B

Results

Implied Equity Value / share$14.72

Current Price$14.24

Upside / Downside+3.3%

Implied EV$4.08B

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

Mult \ Net Debt	$1.57B	$2.57B	$3.57B	$4.57B	$5.57B
5.8x	$24.29	$-4.55	$-33.38	$-62.22	$-91.05
7.8x	$48.34	$19.50	$-9.33	$-38.17	$-67.00
9.8x	$72.39	$43.55	$14.72	$-14.12	$-42.95
11.8x	$96.43	$67.60	$38.76	$9.93	$-18.91
13.8x	$120.48	$91.65	$62.81	$33.98	$5.14

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