ROK — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($412.15)
DCF	$4271.75	+936.5%
Graham Number	$80.97	-80.4%
Reverse DCF	—	implied g: 22.6%
DDM	$113.71	-72.4%
EV/EBITDA	$412.63	+0.1%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $1.03B

Near-term growth (yrs 1–5)(%)Rev: 11.9% / EPS: 67.1%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 11.74%

Computed WACC: 11.74%

Cost of equity (Re)12.70%(Rf 4.30% + β 1.53 × 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)92.47%

Debt weight (D/V)7.53%

Results

Intrinsic Value / share$2601.18

Current Price$412.15

Upside / Downside+531.1%

Net Debt (used)$3.33B

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

WACC \ Near-term	59.1%	63.1%	67.1%	71.1%	75.1%
7.0%	$5408.53	$6121.42	$6907.42	$7772.02	$8720.98
8.0%	$4184.46	$4735.67	$5343.34	$6011.71	$6745.21
9.0%	$3351.42	$3792.64	$4278.99	$4813.86	$5400.80
10.0%	$2751.94	$3114.04	$3513.13	$3951.98	$4433.49
11.0%	$2302.76	$2605.60	$2939.34	$3306.27	$3708.83

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $8.74

Book Value / share($)Yahoo: $33.34

Results

Graham Number$80.97

Current Price$412.15

Margin of Safety-80.4%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 11.74%

Terminal growth rate(%)

Computed WACC: 11.74%

Cost of equity (Re)12.70%(Rf 4.30% + β 1.53 × 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)92.47%

Debt weight (D/V)7.53%

Results

Current Price$412.15

Implied Near-term FCF Growth30.6%

Historical Revenue Growth11.9%

Historical Earnings Growth67.1%

Base FCF (TTM)$1.03B

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: $5.52

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$113.71

Current Price$412.15

Upside / Downside-72.4%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.86B

Target EV/EBITDA multipleCurrent: 26.7×

Net Debt($B)Default: $3.33B

Results

Implied Equity Value / share$412.63

Current Price$412.15

Upside / Downside+0.1%

Implied EV$49.69B

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

Mult \ Net Debt	$1.33B	$2.33B	$3.33B	$4.33B	$5.33B
22.7x	$364.25	$355.35	$346.45	$337.55	$328.65
24.7x	$397.34	$388.44	$379.54	$370.64	$361.74
26.7x	$430.43	$421.53	$412.63	$403.73	$394.83
28.7x	$463.52	$454.62	$445.72	$436.82	$427.92
30.7x	$496.61	$487.71	$478.81	$469.91	$461.01

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