PTC — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($158.12)
DCF	$15466.96	+9681.8%
Graham Number	$70.22	-55.6%
Reverse DCF	—	implied g: 11.3%
DDM	—	—
EV/EBITDA	$158.12	-0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $786.88M

Near-term growth (yrs 1–5)(%)Rev: 21.4% / EPS: 104.4%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.65%

Computed WACC: 9.65%

Cost of equity (Re)9.99%(Rf 4.30% + β 1.03 × ERP 5.50%)

Cost of debt (Rd)6.42%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)93.16%

Debt weight (D/V)6.84%

Results

Intrinsic Value / share$13502.64

Current Price$158.12

Upside / Downside+8439.5%

Net Debt (used)$1.17B

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

WACC \ Near-term	96.4%	100.4%	104.4%	108.4%	112.4%
7.0%	$20789.62	$22989.81	$25372.54	$27948.93	$30730.57
8.0%	$15955.15	$17642.72	$19470.22	$21446.19	$23579.51
9.0%	$12676.09	$14016.00	$15466.96	$17035.74	$18729.39
10.0%	$10325.16	$11415.85	$12596.89	$13873.78	$15252.25
11.0%	$8570.71	$9475.44	$10455.07	$11514.17	$12657.48

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $6.78

Book Value / share($)Yahoo: $32.32

Results

Graham Number$70.22

Current Price$158.12

Margin of Safety-55.6%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.65%

Terminal growth rate(%)

Computed WACC: 9.65%

Cost of equity (Re)9.99%(Rf 4.30% + β 1.03 × ERP 5.50%)

Cost of debt (Rd)6.42%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)93.16%

Debt weight (D/V)6.84%

Results

Current Price$158.12

Implied Near-term FCF Growth13.1%

Historical Revenue Growth21.4%

Historical Earnings Growth104.4%

Base FCF (TTM)$786.88M

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$158.12

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.23B

Target EV/EBITDA multipleCurrent: 16.3×

Net Debt($B)Default: $1.17B

Results

Implied Equity Value / share$158.12

Current Price$158.12

Upside / Downside-0.0%

Implied EV$19.99B

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

Mult \ Net Debt	$1.17B	$1.17B	$1.17B	$1.17B	$1.17B
12.3x	$116.90	$116.90	$116.90	$116.90	$116.90
14.3x	$137.51	$137.51	$137.51	$137.51	$137.51
16.3x	$158.12	$158.12	$158.12	$158.12	$158.12
18.3x	$178.72	$178.72	$178.72	$178.72	$178.72
20.3x	$199.33	$199.33	$199.33	$199.33	$199.33

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