PRA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($24.53)
DCF	$7663.93	+31143.1%
Graham Number	$24.18	-1.4%
Reverse DCF	—	implied g: -9.0%
DDM	—	—
EV/EBITDA	$24.53	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $163.08M

Near-term growth (yrs 1–5)(%)Rev: -4.1% / EPS: 105.2%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 3.32%

Computed WACC: 3.32%

Cost of equity (Re)4.46%(Rf 4.30% + β 0.03 × 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)74.35%

Debt weight (D/V)25.65%

Results

Intrinsic Value / share$88131.78

Current Price$24.53

Upside / Downside+359181.6%

Net Debt (used)-$8.77M

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

WACC \ Near-term	97.2%	101.2%	105.2%	109.2%	113.2%
7.0%	$10310.50	$11396.60	$12572.44	$13843.46	$15215.34
8.0%	$7912.93	$8745.87	$9647.60	$10622.30	$11674.30
9.0%	$6286.82	$6948.08	$7663.93	$8437.67	$9272.75
10.0%	$5121.05	$5659.25	$6241.85	$6871.55	$7551.14
11.0%	$4251.11	$4697.49	$5180.67	$5702.90	$6266.49

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.99

Book Value / share($)Yahoo: $26.24

Results

Graham Number$24.18

Current Price$24.53

Margin of Safety-1.4%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 3.32%

Terminal growth rate(%)

Computed WACC: 3.32%

Cost of equity (Re)4.46%(Rf 4.30% + β 0.03 × 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)74.35%

Debt weight (D/V)25.65%

Results

Current Price$24.53

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth-4.1%

Historical Earnings Growth105.2%

Base FCF (TTM)$163.08M

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$24.53

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $136.24M

Target EV/EBITDA multipleCurrent: 9.2×

Net Debt($B)Default: -$8.77M

Results

Implied Equity Value / share$24.53

Current Price$24.53

Upside / Downside+0.0%

Implied EV$1.25B

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

Mult \ Net Debt	-$2.01B	-$1.01B	-$8.77M	$991.23M	$1.99B
5.2x	$52.83	$33.38	$13.93	$-5.52	$-24.97
7.2x	$58.13	$38.68	$19.23	$-0.22	$-19.67
9.2x	$63.43	$43.98	$24.53	$5.08	$-14.37
11.2x	$68.73	$49.28	$29.83	$10.38	$-9.07
13.2x	$74.03	$54.58	$35.13	$15.68	$-3.77

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