QLYS — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($94.59)
DCF	$380.18	+301.9%
Graham Number	$44.32	-53.1%
Reverse DCF	—	implied g: -2.1%
DDM	—	—
EV/EBITDA	$94.11	-0.5%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $259.13M

Near-term growth (yrs 1–5)(%)Rev: 10.1% / EPS: 23.6%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.31%

Computed WACC: 7.31%

Cost of equity (Re)7.42%(Rf 4.30% + β 0.57 × 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)98.49%

Debt weight (D/V)1.51%

Results

Intrinsic Value / share$533.46

Current Price$94.59

Upside / Downside+464.0%

Net Debt (used)-$393.67M

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

WACC \ Near-term	15.6%	19.6%	23.6%	27.6%	31.6%
7.0%	$419.32	$491.78	$574.38	$668.16	$774.22
8.0%	$336.81	$394.03	$459.22	$533.19	$616.81
9.0%	$280.15	$326.93	$380.18	$440.57	$508.80
10.0%	$238.96	$278.16	$322.76	$373.30	$430.37
11.0%	$207.76	$241.23	$279.28	$322.39	$371.03

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $5.56

Book Value / share($)Yahoo: $15.71

Results

Graham Number$44.32

Current Price$94.59

Margin of Safety-53.1%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.31%

Terminal growth rate(%)

Computed WACC: 7.31%

Cost of equity (Re)7.42%(Rf 4.30% + β 0.57 × 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)98.49%

Debt weight (D/V)1.51%

Results

Current Price$94.59

Implied Near-term FCF Growth-6.5%

Historical Revenue Growth10.1%

Historical Earnings Growth23.6%

Base FCF (TTM)$259.13M

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$94.59

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $236.44M

Target EV/EBITDA multipleCurrent: 12.6×

Net Debt($B)Default: -$393.67M

Results

Implied Equity Value / share$94.11

Current Price$94.59

Upside / Downside-0.5%

Implied EV$2.98B

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

Mult \ Net Debt	-$2.39B	-$1.39B	-$393.67M	$606.33M	$1.61B
8.6x	$123.51	$95.62	$67.73	$39.84	$11.96
10.6x	$136.69	$108.81	$80.92	$53.03	$25.14
12.6x	$149.88	$121.99	$94.11	$66.22	$38.33
14.6x	$163.07	$135.18	$107.29	$79.41	$51.52
16.6x	$176.26	$148.37	$120.48	$92.59	$64.71

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