PPC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($42.35)
DCF	$35.20	-16.9%
Graham Number	$39.78	-6.1%
Reverse DCF	—	implied g: 7.4%
DDM	—	—
EV/EBITDA	$43.22	+2.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $630.86M

Near-term growth (yrs 1–5)(%)Rev: 3.3% / EPS: -62.6%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.99%

Computed WACC: 5.99%

Cost of equity (Re)6.64%(Rf 4.30% + β 0.43 × ERP 5.50%)

Cost of debt (Rd)5.12%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)75.00%

Debt weight (D/V)25.00%

Results

Intrinsic Value / share$75.91

Current Price$42.35

Upside / Downside+79.3%

Net Debt (used)$2.71B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$35.61	$45.12	$56.18	$68.98	$83.73
8.0%	$27.24	$34.89	$43.78	$54.06	$65.88
9.0%	$21.44	$27.81	$35.20	$43.74	$53.54
10.0%	$17.18	$22.62	$28.92	$36.18	$44.51
11.0%	$13.92	$18.65	$24.11	$30.40	$37.61

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $4.54

Book Value / share($)Yahoo: $15.49

Results

Graham Number$39.78

Current Price$42.35

Margin of Safety-6.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.99%

Terminal growth rate(%)

Computed WACC: 5.99%

Cost of equity (Re)6.64%(Rf 4.30% + β 0.43 × ERP 5.50%)

Cost of debt (Rd)5.12%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)75.00%

Debt weight (D/V)25.00%

Results

Current Price$42.35

Implied Near-term FCF Growth-2.4%

Historical Revenue Growth3.3%

Historical Earnings Growth-62.6%

Base FCF (TTM)$630.86M

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$42.35

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $2.27B

Target EV/EBITDA multipleCurrent: 5.7×

Net Debt($B)Default: $2.71B

Results

Implied Equity Value / share$43.22

Current Price$42.35

Upside / Downside+2.0%

Implied EV$12.98B

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

Mult \ Net Debt	$712.75M	$1.71B	$2.71B	$3.71B	$4.71B
1.7x	$13.49	$9.28	$5.07	$0.86	$-3.35
3.7x	$32.56	$28.35	$24.14	$19.93	$15.72
5.7x	$51.63	$47.43	$43.22	$39.01	$34.80
7.7x	$70.71	$66.50	$62.29	$58.08	$53.87
9.7x	$89.78	$85.57	$81.36	$77.15	$72.94

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