RYAN — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($40.21)
DCF	$87.06	+116.5%
Graham Number	$7.27	-81.9%
Reverse DCF	—	implied g: 4.4%
DDM	$10.71	-73.4%
EV/EBITDA	$44.88	+11.6%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $506.21M

Near-term growth (yrs 1–5)(%)Rev: 13.6% / EPS: —

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 5.91%

Computed WACC: 5.91%

Cost of equity (Re)7.88%(Rf 4.30% + β 0.65 × 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)75.10%

Debt weight (D/V)24.90%

Results

Intrinsic Value / share$200.32

Current Price$40.21

Upside / Downside+398.2%

Net Debt (used)$3.37B

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

WACC \ Near-term	5.6%	9.6%	13.6%	17.6%	21.6%
7.0%	$93.40	$116.19	$142.43	$172.52	$206.88
8.0%	$70.60	$88.76	$109.65	$133.58	$160.88
9.0%	$54.88	$69.85	$87.06	$106.76	$129.21
10.0%	$43.40	$56.05	$70.58	$87.20	$106.12
11.0%	$34.66	$45.55	$58.05	$72.33	$88.58

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.47

Book Value / share($)Yahoo: $5.00

Results

Graham Number$7.27

Current Price$40.21

Margin of Safety-81.9%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 5.91%

Terminal growth rate(%)

Computed WACC: 5.91%

Cost of equity (Re)7.88%(Rf 4.30% + β 0.65 × 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)75.10%

Debt weight (D/V)24.90%

Results

Current Price$40.21

Implied Near-term FCF Growth-5.4%

Historical Revenue Growth13.6%

Historical Earnings Growth—

Base FCF (TTM)$506.21M

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: $0.52

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$10.71

Current Price$40.21

Upside / Downside-73.4%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $860.53M

Target EV/EBITDA multipleCurrent: 10.7×

Net Debt($B)Default: $3.37B

Results

Implied Equity Value / share$44.88

Current Price$40.21

Upside / Downside+11.6%

Implied EV$9.19B

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

Mult \ Net Debt	$1.37B	$2.37B	$3.37B	$4.37B	$5.37B
6.7x	$33.76	$26.05	$18.34	$10.63	$2.92
8.7x	$47.04	$39.32	$31.61	$23.90	$16.19
10.7x	$60.31	$52.60	$44.88	$37.17	$29.46
12.7x	$73.58	$65.87	$58.16	$50.45	$42.73
14.7x	$86.85	$79.14	$71.43	$63.72	$56.01

← Overview Financial Statements ← Companies