RDN — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($34.38)
DCF	$-128.40	-473.5%
Graham Number	$59.04	+71.7%
Reverse DCF	—	—
DDM	$21.01	-38.9%
EV/EBITDA	$34.95	+1.7%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$581.22M

Near-term growth (yrs 1–5)(%)Rev: 2.7% / EPS: 14.7%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 7.70%

Computed WACC: 7.70%

Cost of equity (Re)8.51%(Rf 4.30% + β 0.77 × ERP 5.50%)

Cost of debt (Rd)5.72%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)79.70%

Debt weight (D/V)20.30%

Results

Intrinsic Value / share$-164.60

Current Price$34.38

Upside / Downside-578.8%

Net Debt (used)-$437.82M

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

WACC \ Near-term	6.7%	10.7%	14.7%	18.7%	22.7%
7.0%	$-136.29	$-162.69	$-193.08	$-227.87	$-267.55
8.0%	$-109.46	$-130.48	$-154.65	$-182.29	$-213.80
9.0%	$-90.98	$-108.29	$-128.18	$-150.91	$-176.80
10.0%	$-77.48	$-92.11	$-108.88	$-128.04	$-149.84
11.0%	$-67.22	$-79.80	$-94.21	$-110.66	$-129.37

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $4.39

Book Value / share($)Yahoo: $35.29

Results

Graham Number$59.04

Current Price$34.38

Margin of Safety+71.7%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 7.70%

Terminal growth rate(%)

Computed WACC: 7.70%

Cost of equity (Re)8.51%(Rf 4.30% + β 0.77 × ERP 5.50%)

Cost of debt (Rd)5.72%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)79.70%

Debt weight (D/V)20.30%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$34.38

Implied Near-term FCF Growth—

Historical Revenue Growth2.7%

Historical Earnings Growth14.7%

Base FCF (TTM)-$581.22M

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: $1.02

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$21.01

Current Price$34.38

Upside / Downside-38.9%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $916.95M

Target EV/EBITDA multipleCurrent: 4.7×

Net Debt($B)Default: -$437.82M

Results

Implied Equity Value / share$34.95

Current Price$34.38

Upside / Downside+1.7%

Implied EV$4.33B

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

Mult \ Net Debt	-$2.44B	-$1.44B	-$437.82M	$562.18M	$1.56B
0.7x	$22.71	$15.38	$8.04	$0.70	$-6.64
2.7x	$36.17	$28.83	$21.50	$14.16	$6.82
4.7x	$49.63	$42.29	$34.95	$27.61	$20.28
6.7x	$63.09	$55.75	$48.41	$41.07	$33.73
8.7x	$76.54	$69.21	$61.87	$54.53	$47.19

← Overview Financial Statements ← Companies