PLUS — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($79.45)
DCF	$306.92	+286.3%
Graham Number	$71.59	-9.9%
Reverse DCF	—	implied g: 19.8%
DDM	$20.60	-74.1%
EV/EBITDA	$78.70	-0.9%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $46.11M

Near-term growth (yrs 1–5)(%)Rev: 24.6% / EPS: 46.3%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.45%

Computed WACC: 9.45%

Cost of equity (Re)9.77%(Rf 4.30% + β 0.99 × ERP 5.50%)

Cost of debt (Rd)5.70%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)94.04%

Debt weight (D/V)5.96%

Results

Intrinsic Value / share$282.56

Current Price$79.45

Upside / Downside+255.6%

Net Debt (used)-$193.14M

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

WACC \ Near-term	38.3%	42.3%	46.3%	50.3%	54.3%
7.0%	$366.98	$421.14	$481.67	$549.14	$624.12
8.0%	$288.78	$330.97	$378.12	$430.66	$489.04
9.0%	$235.39	$269.42	$307.44	$349.79	$396.84
10.0%	$196.83	$224.98	$256.41	$291.41	$330.29
11.0%	$167.83	$191.55	$218.03	$247.51	$280.25

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $5.60

Book Value / share($)Yahoo: $40.67

Results

Graham Number$71.59

Current Price$79.45

Margin of Safety-9.9%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.45%

Terminal growth rate(%)

Computed WACC: 9.45%

Cost of equity (Re)9.77%(Rf 4.30% + β 0.99 × ERP 5.50%)

Cost of debt (Rd)5.70%(interest expense ÷ avg debt (SEC))

Tax rate (T)21.00%(US statutory fallback)

Equity weight (E/V)94.04%

Debt weight (D/V)5.96%

Results

Current Price$79.45

Implied Near-term FCF Growth21.2%

Historical Revenue Growth24.6%

Historical Earnings Growth46.3%

Base FCF (TTM)$46.11M

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: $1.00

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$20.60

Current Price$79.45

Upside / Downside-74.1%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $226.04M

Target EV/EBITDA multipleCurrent: 8.3×

Net Debt($B)Default: -$193.14M

Results

Implied Equity Value / share$78.70

Current Price$79.45

Upside / Downside-0.9%

Implied EV$1.88B

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

Mult \ Net Debt	-$2.19B	-$1.19B	-$193.14M	$806.86M	$1.81B
4.3x	$120.22	$82.33	$44.45	$6.56	$-31.33
6.3x	$137.35	$99.46	$61.57	$23.69	$-14.20
8.3x	$154.48	$116.59	$78.70	$40.81	$2.92
10.3x	$171.61	$133.72	$95.83	$57.94	$20.05
12.3x	$188.74	$150.85	$112.96	$75.07	$37.18

← Overview Financial Statements ← Companies