PZZA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($31.20)
DCF	$12.64	-59.5%
Graham Number	—	—
Reverse DCF	—	implied g: 11.5%
DDM	$37.90	+21.5%
EV/EBITDA	$32.33	+3.6%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $74.88M

Near-term growth (yrs 1–5)(%)Rev: -6.1% / EPS: -53.5%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.79%

Computed WACC: 5.79%

Cost of equity (Re)11.09%(Rf 4.30% + β 1.24 × 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)52.19%

Debt weight (D/V)47.81%

Results

Intrinsic Value / share$52.24

Current Price$31.20

Upside / Downside+67.4%

Net Debt (used)$900.22M

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$12.98	$21.16	$30.67	$41.68	$54.37
8.0%	$5.79	$12.37	$20.01	$28.85	$39.02
9.0%	$0.80	$6.28	$12.64	$19.98	$28.41
10.0%	$-2.86	$1.82	$7.23	$13.47	$20.64
11.0%	$-5.66	$-1.60	$3.10	$8.51	$14.71

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.14

Book Value / share($)Yahoo: $-13.56

Results

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

Graham Number—

Current Price$31.20

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.79%

Terminal growth rate(%)

Computed WACC: 5.79%

Cost of equity (Re)11.09%(Rf 4.30% + β 1.24 × 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)52.19%

Debt weight (D/V)47.81%

Results

Current Price$31.20

Implied Near-term FCF Growth0.3%

Historical Revenue Growth-6.1%

Historical Earnings Growth-53.5%

Base FCF (TTM)$74.88M

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: $1.84

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$37.90

Current Price$31.20

Upside / Downside+21.5%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $201.79M

Target EV/EBITDA multipleCurrent: 9.7×

Net Debt($B)Default: $900.22M

Results

Implied Equity Value / share$32.33

Current Price$31.20

Upside / Downside+3.6%

Implied EV$1.96B

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

Mult \ Net Debt	-$1.10B	-$99.78M	$900.22M	$1.90B	$2.90B
5.7x	$68.71	$38.21	$7.71	$-22.79	$-53.28
7.7x	$81.01	$50.52	$20.02	$-10.48	$-40.98
9.7x	$93.32	$62.82	$32.33	$1.83	$-28.67
11.7x	$105.63	$75.13	$44.64	$14.14	$-16.36
13.7x	$117.94	$87.44	$56.94	$26.45	$-4.05

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