PTEN — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($8.95)
DCF	$16.68	+86.4%
Graham Number	—	—
Reverse DCF	—	implied g: -3.9%
DDM	$8.24	-7.9%
EV/EBITDA	$8.84	-1.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $409.76M

Near-term growth (yrs 1–5)(%)Rev: -1.0% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.05%

Computed WACC: 6.05%

Cost of equity (Re)8.33%(Rf 4.30% + β 0.73 × 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)72.63%

Debt weight (D/V)27.37%

Results

Intrinsic Value / share$32.62

Current Price$8.95

Upside / Downside+264.5%

Net Debt (used)$861.96M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$16.84	$20.71	$25.21	$30.41	$36.41
8.0%	$13.44	$16.55	$20.17	$24.35	$29.15
9.0%	$11.09	$13.68	$16.68	$20.15	$24.14
10.0%	$9.36	$11.57	$14.13	$17.08	$20.46
11.0%	$8.03	$9.95	$12.17	$14.73	$17.66

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $-0.24

Book Value / share($)Yahoo: $8.48

Results

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

Graham Number—

Current Price$8.95

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.05%

Terminal growth rate(%)

Computed WACC: 6.05%

Cost of equity (Re)8.33%(Rf 4.30% + β 0.73 × 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)72.63%

Debt weight (D/V)27.37%

Results

Current Price$8.95

Implied Near-term FCF Growth-12.2%

Historical Revenue Growth-1.0%

Historical Earnings Growth—

Base FCF (TTM)$409.76M

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: $0.40

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$8.24

Current Price$8.95

Upside / Downside-7.9%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $900.45M

Target EV/EBITDA multipleCurrent: 4.7×

Net Debt($B)Default: $861.96M

Results

Implied Equity Value / share$8.84

Current Price$8.95

Upside / Downside-1.3%

Implied EV$4.22B

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

Mult \ Net Debt	-$1.14B	-$138.04M	$861.96M	$1.86B	$2.86B
0.7x	$4.62	$1.98	$-0.65	$-3.29	$-5.92
2.7x	$9.36	$6.73	$4.09	$1.46	$-1.18
4.7x	$14.11	$11.47	$8.84	$6.20	$3.57
6.7x	$18.85	$16.22	$13.58	$10.95	$8.31
8.7x	$23.59	$20.96	$18.33	$15.69	$13.06

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