RZB — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($25.03)
DCF	$2696729.37	+10773888.7%
Graham Number	$167.90	+570.8%
Reverse DCF	—	implied g: -20.0%
DDM	—	—
EV/EBITDA	$27.58	+10.2%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $1.80B

Near-term growth (yrs 1–5)(%)Rev: 26.6% / EPS: 216.6%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.43%

Computed WACC: 6.43%

Cost of equity (Re)7.11%(Rf 4.30% + β 0.51 × ERP 5.50%)

Cost of debt (Rd)6.81%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)60.64%

Debt weight (D/V)39.36%

Results

Intrinsic Value / share$5392436.41

Current Price$25.03

Upside / Downside+21543793.0%

Net Debt (used)$1.20B

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

WACC \ Near-term	208.6%	212.6%	216.6%	220.6%	224.6%
7.0%	$3971078.15	$4235139.21	$4513064.92	$4805394.24	$5112679.95
8.0%	$3017243.86	$3217866.35	$3429022.12	$3651120.60	$3884581.73
9.0%	$2372908.68	$2530677.58	$2696729.37	$2871386.03	$3054977.75
10.0%	$1913011.95	$2040194.32	$2174053.43	$2314848.79	$2462846.55
11.0%	$1571455.85	$1675922.58	$1785873.21	$1901520.87	$2023084.16

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $6.09

Book Value / share($)Yahoo: $205.63

Results

Graham Number$167.90

Current Price$25.03

Margin of Safety+570.8%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.43%

Terminal growth rate(%)

Computed WACC: 6.43%

Cost of equity (Re)7.11%(Rf 4.30% + β 0.51 × ERP 5.50%)

Cost of debt (Rd)6.81%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)60.64%

Debt weight (D/V)39.36%

Results

Current Price$25.03

Implied Near-term FCF Growth-20.0%

Historical Revenue Growth26.6%

Historical Earnings Growth216.6%

Base FCF (TTM)$1.80B

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: —

Dividend growth rate (g)(%)

Required return (r)(%)

Results

This company does not pay a dividend. DDM is not applicable — the intrinsic value shown uses D0 = $0 unless you enter a hypothetical dividend above.

DDM Intrinsic Value / share—

Current Price$25.03

Upside / Downside—

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $1.95B

Target EV/EBITDA multipleCurrent: 1.5×

Net Debt($B)Default: $1.20B

Results

Implied Equity Value / share$27.58

Current Price$25.03

Upside / Downside+10.2%

Implied EV$2.93B

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

Mult \ Net Debt	$1.20B	$1.20B	$1.20B	$1.20B	$1.20B
-2.5x	$-96.61	$-96.61	$-96.61	$-96.61	$-96.61
-0.5x	$-34.51	$-34.51	$-34.51	$-34.51	$-34.51
1.5x	$27.58	$27.58	$27.58	$27.58	$27.58
3.5x	$89.68	$89.68	$89.68	$89.68	$89.68
5.5x	$151.77	$151.77	$151.77	$151.77	$151.77

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