SBRA — Valuation Models

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

Valuation Summary

Model	Intrinsic Value	vs Price ($20.57)
DCF	$32.02	+55.6%
Graham Number	$12.71	-38.2%
Reverse DCF	—	implied g: 10.3%
DDM	$24.72	+20.2%
EV/EBITDA	$20.58	+0.0%

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

1 — Discounted Cash Flow (DCF)

Assumptions

Base FCF($B)Yahoo: $320.53M

Near-term growth (yrs 1–5)(%)Rev: 15.8% / EPS: -44.7%

Long-term growth (yrs 6–10)(%)

Terminal growth rate(%)

WACC(%)Computed: 6.42%

Computed WACC: 6.42%

Cost of equity (Re)7.80%(Rf 4.30% + β 0.64 × ERP 5.50%)

Cost of debt (Rd)4.55%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)67.15%

Debt weight (D/V)32.85%

Results

Intrinsic Value / share$62.92

Current Price$20.57

Upside / Downside+205.9%

Net Debt (used)$2.46B

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

WACC \ Near-term	7.8%	11.8%	15.8%	19.8%	23.8%
7.0%	$34.84	$43.22	$52.85	$63.86	$76.41
8.0%	$26.20	$32.86	$40.51	$49.25	$59.20
9.0%	$20.25	$25.73	$32.02	$39.20	$47.37
10.0%	$15.90	$20.53	$25.83	$31.87	$38.75
11.0%	$12.60	$16.58	$21.13	$26.31	$32.20

2 — Graham Number

Assumptions

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

EPS (trailing)($)Yahoo: $0.64

Book Value / share($)Yahoo: $11.21

Results

Graham Number$12.71

Current Price$20.57

Margin of Safety-38.2%

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

3 — Reverse DCF (Implied Growth)

Assumptions

WACC(%)Computed: 6.42%

Terminal growth rate(%)

Computed WACC: 6.42%

Cost of equity (Re)7.80%(Rf 4.30% + β 0.64 × ERP 5.50%)

Cost of debt (Rd)4.55%(interest expense ÷ avg debt (SEC))

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

Equity weight (E/V)67.15%

Debt weight (D/V)32.85%

Results

Current Price$20.57

Implied Near-term FCF Growth1.8%

Historical Revenue Growth15.8%

Historical Earnings Growth-44.7%

Base FCF (TTM)$320.53M

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: $1.20

Dividend growth rate (g)(%)

Required return (r)(%)

Results

DDM Intrinsic Value / share$24.72

Current Price$20.57

Upside / Downside+20.2%

Formula: D0 × (1+g) / (r − g)

5 — EV/EBITDA Multiple

Assumptions

EBITDA($B)Yahoo: $447.11M

Target EV/EBITDA multipleCurrent: 17.1×

Net Debt($B)Default: $2.46B

Results

Implied Equity Value / share$20.58

Current Price$20.57

Upside / Downside+0.0%

Implied EV$7.65B

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

Mult \ Net Debt	$462.64M	$1.46B	$2.46B	$3.46B	$4.46B
13.1x	$21.42	$17.45	$13.49	$9.52	$5.55
15.1x	$24.96	$21.00	$17.03	$13.07	$9.10
17.1x	$28.51	$24.54	$20.58	$16.61	$12.65
19.1x	$32.06	$28.09	$24.12	$20.16	$16.19
21.1x	$35.60	$31.64	$27.67	$23.71	$19.74

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