RPRX — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($47.47)
DCF	$-54.17	-214.1%
Graham Number	$24.60	-48.2%
Reverse DCF	—	—
DDM	$19.36	-59.2%
EV/EBITDA	$55.03	+15.9%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: -$670.41M

Near-term growth (yrs 1–5)(%)Rev: 4.8% / EPS: 9.0%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 4.98%

Computed WACC: 4.98%

Cost of equity (Re)6.60%(Rf 4.30% + β 0.42 × 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)75.38%

Debt weight (D/V)24.62%

Results

Intrinsic Value / share$-113.81

Current Price$47.47

Upside / Downside-339.8%

Net Debt (used)$8.33B

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

WACC \ Near-term	1.0%	5.0%	9.0%	13.0%	17.0%
7.0%	$-55.25	$-62.30	$-70.47	$-79.88	$-90.67
8.0%	$-48.65	$-54.29	$-60.83	$-68.34	$-76.96
9.0%	$-44.08	$-48.76	$-54.17	$-60.38	$-67.50
10.0%	$-40.74	$-44.71	$-49.30	$-54.56	$-60.59
11.0%	$-38.19	$-41.63	$-45.59	$-50.13	$-55.32

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $1.78

Book Value / share($)Yahoo: $15.11

Results

Graham Number$24.60

Current Price$47.47

Margin of Safety-48.2%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 4.98%

Terminal growth rate(%)

Computed WACC: 4.98%

Cost of equity (Re)6.60%(Rf 4.30% + β 0.42 × 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)75.38%

Debt weight (D/V)24.62%

Results

Reverse DCF requires positive TTM free cash flow.

Current Price$47.47

Implied Near-term FCF Growth—

Historical Revenue Growth4.8%

Historical Earnings Growth9.0%

Base FCF (TTM)-$670.41M

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: $0.94

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$19.36

Current Price$47.47

Upside / Downside-59.2%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.56B

Target EV/EBITDA multipleCurrent: 20.4×

Net Debt($B)Default: $8.33B

Results

Implied Equity Value / share$55.03

Current Price$47.47

Upside / Downside+15.9%

Implied EV$31.91B

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

Mult \ Net Debt	$4.33B	$6.33B	$8.33B	$10.33B	$12.33B
16.4x	$49.77	$45.10	$40.43	$35.76	$31.10
18.4x	$57.07	$52.40	$47.73	$43.06	$38.39
20.4x	$64.37	$59.70	$55.03	$50.36	$45.69
22.4x	$71.66	$67.00	$62.33	$57.66	$52.99
24.4x	$78.96	$74.29	$69.63	$64.96	$60.29

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