RNG — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($35.20)
DCF	$133.22	+278.4%
Graham Number	—	—
Reverse DCF	—	implied g: -13.4%
DDM	$6.18	-82.4%
EV/EBITDA	$42.70	+21.3%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $641.36M

Near-term growth (yrs 1–5)(%)Rev: 4.8% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 9.08%

Computed WACC: 9.08%

Cost of equity (Re)10.98%(Rf 4.30% + β 1.21 × ERP 5.50%)

Cost of debt (Rd)5.81%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)70.23%

Debt weight (D/V)29.77%

Results

Intrinsic Value / share$131.39

Current Price$35.20

Upside / Downside+273.2%

Net Debt (used)$1.16B

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

WACC \ Near-term	-3.0%	1.0%	5.0%	9.0%	13.0%
7.0%	$134.50	$164.78	$200.02	$240.81	$287.78
8.0%	$107.84	$132.22	$160.54	$193.27	$230.93
9.0%	$89.38	$109.67	$133.22	$160.40	$191.63
10.0%	$75.82	$93.13	$113.19	$136.31	$162.85
11.0%	$65.44	$80.48	$97.88	$117.92	$140.88

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.48

Book Value / share($)Yahoo: $-6.90

Results

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

Graham Number—

Current Price$35.20

Margin of Safety—

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 9.08%

Terminal growth rate(%)

Computed WACC: 9.08%

Cost of equity (Re)10.98%(Rf 4.30% + β 1.21 × ERP 5.50%)

Cost of debt (Rd)5.81%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)70.23%

Debt weight (D/V)29.77%

Results

Current Price$35.20

Implied Near-term FCF Growth-13.2%

Historical Revenue Growth4.8%

Historical Earnings Growth—

Base FCF (TTM)$641.36M

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: $0.30

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$6.18

Current Price$35.20

Upside / Downside-82.4%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $357.09M

Target EV/EBITDA multipleCurrent: 12.3×

Net Debt($B)Default: $1.16B

Results

Implied Equity Value / share$42.70

Current Price$35.20

Upside / Downside+21.3%

Implied EV$4.40B

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

Mult \ Net Debt	$1.16B	$1.16B	$1.16B	$1.16B	$1.16B
8.3x	$23.87	$23.87	$23.87	$23.87	$23.87
10.3x	$33.28	$33.28	$33.28	$33.28	$33.28
12.3x	$42.70	$42.70	$42.70	$42.70	$42.70
14.3x	$52.12	$52.12	$52.12	$52.12	$52.12
16.3x	$61.54	$61.54	$61.54	$61.54	$61.54

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